Arab Today, arab today warren buffet takes on us ketchup giant heinz for 28bn
Last Updated : GMT 08:53:10
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Investment powerhouse Berkshire joins 3G Capital

Warren Buffet takes on US ketchup giant Heinz for $28bn

Arab Today, arab today

Arab Today, arab today Warren Buffet takes on US ketchup giant Heinz for $28bn

Buffett: Heinz has strong, sustainable growth potential
Washington – Arabstoday

Buffett: Heinz has strong, sustainable growth potential Washington – Arabstoday Warren Buffett\'s investment powerhouse Berkshire Hathaway and 3G Capital announced on Thursday that they would take over venerable US ketchup maker Heinz in a deal valuing the company at $28bn.
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 $28bn, 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.\"
Source: AFP

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