Kraft and Heinz to merge in deal to create company with revenue of $28 billion

[cal04]

Last edited Wed Mar 25, 2015, 07:23 AM - Edit history (1)

Kraft Foods Group Inc. KRFT, +14.64% and H.J. Heinz Company on Wednesday announced that they will merge to create The Kraft Heinz Company. The combined entity will be the third largest food and beverage company in North America. Under terms of the deal, unanimously agreed by both boards of directors, Kraft shareholders will own a 49% stake in the company, and get a special cash dividend of $16.50 per share. Current Heinz shareholders will own a 51% stake. The aggregate special dividend payment of around $10 billion will be funded by an equity contribution from Berkshire Hathaway Inc. BRK.B, +0.01% [s:brkb] and 3G Capital, which owns Heinz.

"This is my kind of transaction, uniting two world-class organizations and delivering shareholder value," said Warren Buffett, chairman and CEO of Berkshire Hathaway, in a statement.


http://www.marketwatch.com/story/kraft-and-heinz-to-merge-in-deal-to-create-company-with-revenue-of-28-billion-2015-03-25?dist=beforebell

[Demeter]

1. So, Warren Buffett gives it his blessing

I am so not impressed. Bigger is not better.

Does this mean Kerry will try for Prez again?

[Fearless]

2. The rich get richer and jobs are cut because of "redundancy"

[abelenkpe]

3. K&R

[stillwaiting]

4. Ugh. They were already too big individually. nt

[global1]

5. Kreinz - Heil!!!!.....nt