Business

Heinz sets date for vote on company sale

PITTSBURGH — H.J. Heinz Co. shareholders will vote on April 30 whether to sell the ketchup maker to Warren Buffett’s Berkshire Hathaway Inc. and 3G Capital for $23.3 billion.

Heinz also said antitrust regulators approved the deal early, clearing one of the conditions to completing the transaction.

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Heinz shareholders will receive $72.50 for each share they own if the deal is approved.

Based on Pittsburgh-based Heinz’s number of shares outstanding, the deal is worth $23.3 billion. Including debt, the deal is worth about $28 billion.

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Berkshire Hathaway, based in Omaha, is putting up $12.12 billion for half of the equity in Heinz, and $8 billion of preferred shares that pay 9 percent. Brazil’s 3G Capital will run Heinz.

Associated Press

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