Buffett part of group to buy Heinz in $23B deal
NEW YORK – H.J. Heinz Co. has agreed to be acquired by an investment group including billionaire investor Warren Buffett in a deal valued at $23.3 billion.
The ketchup company says it's the largest deal ever in the food industry. Heinz shareholders will receive $72.50 in cash for each share of common stock they own. The transaction value includes the assumption of Heinz's debt. Based on Heinz's number of shares outstanding, the deal is worth $23.3 billion excluding debt.
"It's our kind of company," Buffett said in an interview on CNBC, noting its signature ketchup has been around for more than a century. "I've sampled it many times."
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