February 18, 2013
HEINZ TO SELL TO 3G CAPITAL
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Warren Buffett's Berkshire Hathaway and private equity firm 3G Capital will buy ketchup and baby food maker H.J. Heinz Co for $23.2 billion in cash, a deal that combines 3G's ambitions in the food industry with Buffett's hunt for growth.
Including debt assumption, Heinz valued the transaction, which it called the largest in its industry's history, at $28 billion.
Heinz shares actually rose slightly above the offer price, although Buffett cautioned he had no intention of raising his bid.
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