Heinz sets date for vote on company sale

PITTSBURGH (AP) - Shareholders of H.J. Heinz Co. will vote on April 30 whether to sell the ketchup maker to Warren Buffett's Berkshire Hathaway and 3G Capital for $23.3 billion.

Heinz also said Wednesday that antitrust regulators approved the deal early, clearing one of the conditions to completing the transaction.

Heinz shareholders will receive $72.50 in cash for each share they own if the deal is approved.

Based on Pittsburgh-based Heinz's number of shares outstanding, the deal is worth $23.3 billion. Including debt, the deal is worth about $28 billion.

Berkshire Hathaway Inc., based in Omaha, Neb., is putting up $12.12 billion in return for half of the equity in Heinz, as well as $8 billion of preferred shares that pay 9 percent. Brazil's 3G Capital will run Heinz.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Devastating
    The mother of an alleged high school rape victim speaks out

  • Tarnished Park
    Recent crimes have Dori worried about the state of one of his favorite Seattle parks

  • Plagued by Problems
    Ferry woes have added up this year with canceled routes, overcrowding & staff issues
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.