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Buffett pulls off fresh blockbuster with $23 billion Heinz deal
Reuters ^ | 2/14/2013 | Ben Berkowitz and Martinne Geller

Posted on 02/14/2013 8:23:15 AM PST by South40

(Reuters) - Warren Buffett's Berkshire Hathaway and private equity firm 3G Capital will buy ketchup and baby food maker H.J. Heinz Co for $23.2 billion in cash, a deal that combines 3G's ambitions in the food industry with Buffett's hunt for growth.

Including debt assumption, Heinz valued the transaction, which it called the largest in its industry's history, at $28 billion. Berkshire and 3G will pay $72.50 per share, a 19 percent premium to the stock's previous all-time high.

(Excerpt) Read more at reuters.com ...


TOPICS: Crime/Corruption; Miscellaneous; News/Current Events
KEYWORDS: 3gcapital; berkshirehathaway; buffetheinz; buffett; buffettheinz; ethanol; heinz; johnkerry; kerryshadowgov; vinegar
As if I needed additional reasons to continue my boycott of everything Heinz.
1 posted on 02/14/2013 8:23:22 AM PST by South40
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To: South40

If you bought in November 2011, you have just made 44% plus dividends in 15 months. Not bad...


2 posted on 02/14/2013 8:24:48 AM PST by proxy_user
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To: South40
"Damn the TOMATOES, full speed ahead!"
3 posted on 02/14/2013 8:26:08 AM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: proxy_user

John Kerry just got paid!


4 posted on 02/14/2013 8:26:25 AM PST by Edgar3 (Don't THREAD on me!)
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To: Edgar3

Laid then paid is more like it.


5 posted on 02/14/2013 8:29:42 AM PST by Happy Rain
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To: South40

$23 Billion buys an awful lot of tomatoes.


6 posted on 02/14/2013 8:32:24 AM PST by BuffaloJack (Guns should not be illegal; they should be undocumented.)
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To: Edgar3

Paid his allowance.


7 posted on 02/14/2013 8:33:52 AM PST by rightly_dividing
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To: South40

But is Buffett paying more taxes that he complained he wasn’t being forced to pay?
He can voluntarily send more in.
IF he truly wanted to put his money where his mouth is.


8 posted on 02/14/2013 8:35:03 AM PST by Darksheare (Try my coffee, first one's free.....)
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To: South40
Talk about political and financial incest! Does this mean that John Friggin Kerry is now richer than Mitt Romney? Will John Friggin Kerry and his worthless whore wife pay every single nickel in taxes they're required to pay under both Federal *and* Massachusetts law.
9 posted on 02/14/2013 8:35:11 AM PST by Gay State Conservative ("Progressives" toss the word "racist" around like chimps toss their feces)
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To: Edgar3

That would be john f’n kerry aka thurston howell III traitor extrodanaire (sp?). Will he now be able to afford to move his boat to the proper state and pay the taxes on it? (RI to MA?) Will Lovey still love his horse face? Has he set up private negotiations with N Korea yet? Stay tuned for the intriguing saga of john f’n kerry. (He served in Viet Nam in case you didn’t know!) LOL!


10 posted on 02/14/2013 8:37:01 AM PST by rktman (Live the oath you took or get out of office!)
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To: South40

Crooks doing business with crooks. Wonder if Teresa had her drink and grapes while signing?


11 posted on 02/14/2013 8:43:50 AM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: South40

and Buffett.


12 posted on 02/14/2013 8:45:28 AM PST by Mouton (108th MI Group.....68-71)
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To: proxy_user
"Not bad..."

Buffet converted a big chunk of his cash investment here (earning 0.5%) into preferred stock at 9%. Not bad . . . .

yitbos

13 posted on 02/14/2013 8:45:28 AM PST by bruinbirdman ("Those who control language control minds." -- Ayn Rand)
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To: South40

Doesn’t Kerry’s wife own a big bunch of that stock or did she already sell it earlier?


14 posted on 02/14/2013 8:52:16 AM PST by Old Retired Army Guy
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To: South40
Wow so does this mean Poodle boy will get a boost in his allowance?

BTW: This thing is our new SoS...


15 posted on 02/14/2013 8:53:58 AM PST by GrandJediMasterYoda (Someday our schools we will teach the difference between "lose" and "loose")
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To: BuffaloJack
"$23 Billion buys an awful lot of tomatoes. "

Even CNBC only talks about Heinz catsup. Yet, Heinz is known for its 57 varieties of pickles. It is the worlds largest producer of vinegar.

Now what would 3 Brazilian billionaires want with Heinz? Vinegar is fermented from ethanol. Brazil loves ethanol.

The ethanol process is the connection.

yitbos

16 posted on 02/14/2013 8:54:53 AM PST by bruinbirdman ("Those who control language control minds." -- Ayn Rand)
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To: bruinbirdman
Yet, Heinz is known for its 57 varieties of pickles.

One for each state.

17 posted on 02/14/2013 8:55:56 AM PST by dfwgator
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To: bruinbirdman

You need a lot of money to pull of those kinds of deals.

Small investors should be happy with 44% in 15 months.


18 posted on 02/14/2013 8:56:06 AM PST by proxy_user
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To: South40

"Gin-soaked raisins for everybody!"


19 posted on 02/14/2013 8:58:06 AM PST by COBOL2Java (Fighting Obama without Boehner & McConnell is like going deer hunting without your accordion)
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To: rightly_dividing

John Kerry has a PERSNAL wealth of almost $00 Million through inheritance, standard in office theft (Insider trading and the like) and his Gigalo Services for his first wife.

With his wife’s, Teresa’s, money from her first husband H. John Heinz., they have well over a billion dollars. Two strumpets, one household. Only Kerry could get so lucky as to find love with two Trust Fund Babies.

I can not tell if this is a full buy out that will take the company private or whether it is a controlling share leaving it on the market.


20 posted on 02/14/2013 9:01:08 AM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: South40

how much is the sales tax on that?

/sarc


21 posted on 02/14/2013 9:03:26 AM PST by GeronL (http://asspos.blogspot.com)
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To: Jim from C-Town

That is $200. Million.


22 posted on 02/14/2013 9:16:16 AM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: COBOL2Java

Hunts is the best ketchup anyway. don’t buy the death ketchup from these America haters.


23 posted on 02/14/2013 9:18:28 AM PST by Gasshog (Welcome to the United States of Stupidos!)
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To: South40
Doesn't Buffett also own most of Con-Agra who makes Hunt's Ketchup, the biggest rival to Heinz . . . until now?

Look's like I will be switching to the Dollar General brand.

24 posted on 02/14/2013 9:24:26 AM PST by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Edgar3; MestaMachine; thouworm; Rushmore Rocks; Oorang; dragonblustar; jersey117; Velveeta; ...
.

John Kerry just got paid!

Yep. My first thought, too.

25 posted on 02/14/2013 9:35:51 AM PST by LucyT (In the 20th century 280 million people were killed by their own governments.)
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To: Edgar3
John Kerry just got paid!

"Just got paid today/Got me a pocketful of change..."

26 posted on 02/14/2013 9:37:50 AM PST by dfwgator
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To: Gasshog

Absolutely, Hunts is better by far than Heinz. I haven’t used any Heinz products since I found that Kerry was associated with it...and never will again.


27 posted on 02/14/2013 9:51:19 AM PST by FrankR (They will become our ultimate masters the day we surrender the 2nd Amendment.)
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To: Vigilanteman; Gasshog

Muir Glen makes a very good organic ketchup - ask for it at your market.


28 posted on 02/14/2013 9:55:12 AM PST by jacquej
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To: bruinbirdman

The Heinz empire is pretty large, including Ore-Ida, Lea & Perins, TGI Friday and Weight Watchers. Talk about getting money on both ends.


29 posted on 02/14/2013 9:58:39 AM PST by discostu (Not just another moon faced assassin of joy.)
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To: South40

They won’t be getting rich off me as the Heinz ban is and always will be in effect.


30 posted on 02/14/2013 12:18:20 PM PST by bgill
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To: South40; LucyT

John Kerry May Have Made $670,000 On Today's Heinz Deal


31 posted on 02/14/2013 2:00:36 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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