Buffett’s Ketchup Bet: Unlikely Another Bidder Emerges
H.J. Heinz Co., which agreed to be acquired by Buffett’s Berkshire Hathaway BRKB +0.91% and private-equity firm 3G Capital for $72.50 a share, or more than $23 billion. The deal is seen as the largest-ever in the food industry.
Shares recently rose 20% to $72.50 on heavy trading volume.
Heinz is a packaged-foods company known for its iconic ketchup brand but recently has been battling weaker North American sales.
Comment: We bought HNZ 2 years ago for about $ 50 . ... sold today at $ 72.505. Replacing with Church & Dwight Co. Inc. and Danone. Warren is ready for another acquisition.