Value Investing World

Thursday, February 14, 2013

Berkshire Hathaway, 3G Capital to buy Heinz for $23 bln cash

Warren Buffett's Berkshire Hathaway Inc and 3G Capital will buy H.J. Heinz Co for $72.50 a share, or $23.2 billion in cash, Heinz said on Thursday.

Including debt assumption, Heinz valued the deal at $28 billion, which it called the largest in food industry history.

Heinz said the deal would be financed with cash from Berkshire and 3G, debt rollover and debt financing from J.P. Morgan and Wells Fargo.

The company did not elaborate on what portion of the cash would be contributed by Berkshire and what portion would come from 3G. CNBC reported that each side would put up $4.5 billion cash as part of the purchase.

"It's my kind of deal and it's my kind of partner," Buffett told CNBC, adding that Berkshire and 3G would be equal equity partners.

Posted by Joe at 2/14/2013
Labels: Berkshire Hathaway, Warren Buffett
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Value Investing World is a blog dedicated to promoting the multidisciplinary approach to investing and development of – as Charlie Munger describes it – a latticework of mental models. Although largely focused on linking to investing and economic material it deems of interest, it will also post and link to material from other disciplines that it thinks worth reading or watching.

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Charlie Munger

  • Poor Charlie's Almanack
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  • NOTES: Charlie Munger - USC Law School Commencement - May 13, 2007
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Warren Buffett

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Diversification

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Expert Performance / Self-Improvement

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