Berkshire Hathaway, 3G Drop $28B For Heinz

Law360, New York (February 14, 2013, 1:35 PM EST) -- Warren Buffett's Berkshire Hathaway Inc. has teamed with private equity firm 3G Capital Management LLC to swallow up HJ Heinz Co. in a go-private deal worth $28 billion, adding another iconic American brand to both buyers' well-stocked portfolios, the firms said Thursday.

Under the transaction's terms, Heinz shareholders will get a cash payout of $72.50 per share, a 20 percent premium to the stock's Wednesday close. In addition to the total cash consideration of $23 billion, the buyers will take on $5 billion in outstanding debt....
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