Heinz No-Shop Shows Price Isn't Everything In Pa.

Law360, New York (February 19, 2013, 6:59 PM EST) -- The lack of a go-shop period in H.J. Heinz Co.'s $28 billion buyout distinguishes it from many recent private equity deals, but is supported by merger laws in Pennsylvania, where the food giant is incorporated and where boards have more leeway in crafting deals than their Delaware peers.

Heinz agreed last week to be acquired by Brazilian private equity firm 3G Capital Management LLC and Warren Buffett's Berkshire Hathaway Inc. for about $23 billion. The deal, which also includes the assumption of about $5 billion in...
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