Warren Buffett's investment powerhouse Berkshire Hathaway and 3G Capital announced Thursday that they would take over venerable US ketchup maker Heinz in a deal valuing the company at $28 billion.
A hamper of Heinz products presented to Britain's Queen Elizabeth II and Prince Philip pictured during their visit to the Heinz food factory in Wigan, northern England, on May 21, 2009. Warren Buffett's investment powerhouse Berkshire Hathaway and 3G Capital announced Thursday that they would take over venerable US ketchup maker Heinz in a deal valuing the company at $28 billion.
The two will pay HJ Heinz shareholders $72.50 per share in cash, a 20 percent premium on Heinz's Wednesday closing price.
Counting debt assumed by the buyers, the deal valued Heinz at about $28 billion, they said.
"Heinz has strong, sustainable growth potential based on high quality standards, continuous innovation, excellent management and great tasting products," Buffett, the chairman of Berkshire, said in a statement.
"Their global success is a testament to the power of investing behind strong brand equities and the strength of their management team and processes."
Share this article
About the author
Writer: AFP News agencyPosition: Agence France-Presse
Bangkok Post online classifieds
Try buying selling goods and properties 24/7 in our classifieds which has high purchasing power local expatriate audience from within Thailand and around the world.
Article source: http://www.thethailandlinks.com/2013/02/14/berkshire-buys-ketchup-maker-heinz-in-28-bn-deal/
0 comments:
Post a Comment