Money and Finance
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Thanks to Will for passing this along. Gregory Abel and Tracy Britt, two of Warren Buffett’s deputies who have been adding responsibilities at Berkshire Hathaway Inc. (BRK/A), were selected by the billionaire to join him as directors of HJ Heinz Co....
- A Rising Star Emerges At Berkshire
When Tracy Britt arrived in Omaha, Neb., in 2009 to meet with Warren Buffett, she brought a Harvard M.B.A., a glittering resume and a boatload of ambition. But she also brought the famed investor a gift to highlight their shared Midwestern roots: a bushel...
- Buffett’s Kind Of Deal
It is by now almost trite to say that there are deals and then there are Buffett deals. And the $23 billion acquisition of H.J. Heinz is certainly a Buffett deal. Warren E. Buffett is known for picking public targets, setting his price and the targets...
- Buffett's Latest Bargain: Berkshire Hathaway
For all the adulation he receives, Warren Buffett isn't getting credit where it arguably counts the most: his company's share price. Berkshire Hathaway's Class A shares trade around $128,000 a share. While that's a big number, it's...
- Warren Buffett: Merchant Banker Of Last Resort
Found via the Corner of Berkshire & Fairfax. In financial markets, judge operators by what they do not what they say or intend to do if stars are properly aligned. Reading the Berkshire Hathaway 10-Q reveals a somber point of view in terms of...
Money and Finance
Berkshire Hathaway, 3G Capital to buy Heinz for $23 bln cash
Warren Buffett's Berkshire Hathaway Inc and 3G Capital will buy H.J. Heinz Co for $72.50 a share, or $23.2 billion in cash, Heinz said on Thursday.
Including debt assumption, Heinz valued the deal at $28 billion, which it called the largest in food industry history.
Heinz said the deal would be financed with cash from Berkshire and 3G, debt rollover and debt financing from J.P. Morgan and Wells Fargo.
The company did not elaborate on what portion of the cash would be contributed by Berkshire and what portion would come from 3G. CNBC reported that each side would put up $4.5 billion cash as part of the purchase.
"It's my kind of deal and it's my kind of partner," Buffett told CNBC, adding that Berkshire and 3G would be equal equity partners.
- Buffett Deputies Join Heinz Board As Lynnn Swann Departs
Thanks to Will for passing this along. Gregory Abel and Tracy Britt, two of Warren Buffett’s deputies who have been adding responsibilities at Berkshire Hathaway Inc. (BRK/A), were selected by the billionaire to join him as directors of HJ Heinz Co....
- A Rising Star Emerges At Berkshire
When Tracy Britt arrived in Omaha, Neb., in 2009 to meet with Warren Buffett, she brought a Harvard M.B.A., a glittering resume and a boatload of ambition. But she also brought the famed investor a gift to highlight their shared Midwestern roots: a bushel...
- Buffett’s Kind Of Deal
It is by now almost trite to say that there are deals and then there are Buffett deals. And the $23 billion acquisition of H.J. Heinz is certainly a Buffett deal. Warren E. Buffett is known for picking public targets, setting his price and the targets...
- Buffett's Latest Bargain: Berkshire Hathaway
For all the adulation he receives, Warren Buffett isn't getting credit where it arguably counts the most: his company's share price. Berkshire Hathaway's Class A shares trade around $128,000 a share. While that's a big number, it's...
- Warren Buffett: Merchant Banker Of Last Resort
Found via the Corner of Berkshire & Fairfax. In financial markets, judge operators by what they do not what they say or intend to do if stars are properly aligned. Reading the Berkshire Hathaway 10-Q reveals a somber point of view in terms of...