Heinz Beats Investor Actions, Clears Path For Buyout Vote

Law360, Philadelphia (April 29, 2013, 7:18 PM EDT) -- A Pennsylvania judge on Monday dismissed seven putative class actions alleging H.J. Heinz Co.'s board failed to solicit other offers before accepting a $28 billion buyout from 3G Capital Partners Ltd. and Berkshire Hathaway Inc., clearing the way for a Tuesday vote to finalize the deal.

Judge Christine Ward in the Allegheny County Court of Common Pleas said she was bound by case law to accept a report from an independent committee commissioned by Heinz's board to investigate the claims raised in the suits and which...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.