Daily News: March 26, 2015

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.

To read the entire Bloomberg article, click here.