Kraft to Merge With Heinz in Deal Backed by 3G, Buffett
Bloomberg reported Kraft Foods Group will merge with H.J. Heinz in a deal orchestrated by 3G Capital and Warren Buffett’s Berkshire Hathaway, creating the third-largest food and beverage company in North America.
Bloomberg reported Berkshire and 3G will invest $10 billion in the deal, which values Kraft at about $46 billion, before net debt, based on its stock price Tuesday and the cash payment investors will receive.
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