Heinz, Kraft, Krienz?
Heinz may be on the way to buy Kraft foods (as you may have guessed, by now). They, the new company, may become the third-largest food and beverage company in North America. The deal was put forward by Heinz’s owner, the Brazilian investment firm 3G Capital, and billionaire investor Warren Buffett’s Berkshire Hathaway.
Current Heinz shareholders will own 51 per cent of the combined company, with Kraft shareholders owning 49 per cent. Kraft shareholders will receive stock in the combined company and a special cash dividend of approximately $10 billion. Hand me a bottle of Ketchup!
Kraft’s Shareholders are yet to give the ‘nod’ for the multi-dollar-food-company deal.