Heinz bought by Warren Buffett’s Berkshire Hathaway for $28bn.. largest deal in the food industry ever..insider trading alert
http://www.bbc.co.uk/news/business-21461779
US billionaire Warren Buffett is set to buy food giant Heinz in a deal worth $28bn (£18bn).
Mr Buffett’s Berkshire Hathaway company and private equity firm 3G have agreed to take over the food company, famous for its ketchup and baked beans.
In a statement, Heinz called the deal “historic”, and the largest to date in the food industry.
Shares in Heinz soared nearly 20% in New York to hit the $72.50 price being offered.
And Class A shares in Berkshire Hathaway rose 1% to $149,240 a share – a record closing high.
The takeover has been approved by the company’s board, but still needs to be voted on by shareholders.
“The Heinz brand is one of the most respected brands in the global food industry and this historic transaction provides tremendous value to Heinz shareholders,” said Heinz chairman, president and chief executive William Johnson.
“We look forward to partnering with Berkshire Hathaway and 3G Capital, both greatly respected investors, in what will be an exciting new chapter in the history of Heinz.”
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there goes warren..off buying again..and the 20% rise in the heinz share price is now being looked at closely..might have helped pay for the deal with the money made on the trades? biggest deal ever in the food industry..
401
http://www.usatoday.com/story/money/business/2013/02/15/heinz-trading-freeze/1923691/
and http://www.nasdaq.com/article/market-snapshot-us-stocks-drop-on-wal-mart-sales-worry-20130215-00782
+ http://www.news10.net/news/article/158582/2/140-jobs-lost-after-Heinz-plant-closes-in-Stockton MAYBE the ball is turning yup
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Immunohistopathology: A Practical Approach to Diagnosis · My-infoWorld.NET said this on February 16, 2013 at 12:05 PM |
Dear Seeker, as Isabel pointed out with her link, those nefarious trades seem to be front runners in the hedge fund world who were leaked information in advance. You can think along the lines of names like “stevie” cohen for trades like this, and I am not saying it’s “stevie” cohen except by example of “insider trading.” The $1.7M profit was hardly something Uncle Warren needed to swallow this pill–assuming that is what you were implying–one that he paid a “Dear Price” for I will add with respect to “premiums” and “multiples” tied to important benchmarks for valuing businesses. He is paying a lot more than he would normally for “growth at a reasonable price.” Uncle Warren understands valuable business moats and long term “branding” which keeps those businesses in the front of a consumer’s cranium.
I think what was interesting about this deal, relates to this new Russian whiz kid partnering with Uncle Warren to run the Hnz operations over at 3G. After all, people like this don’t just appear on the scene out of nowhere without a compelling story that has catapulted them to their status in life. I wonder where the “money” who “follows” that kid has come from up until now!
Everybody has a story, what’s your story, Seeker! 
http://www.3gcapital.com/CFA%20Magazine%20Nov-Dec%202007%203G%20Capital1.pdf
What’s this kids name? We can check him out.
http://finance.yahoo.com/news/sac-hit-1-68-billion-183149104.html
The rats want out from the looks of it.
…and they always get out…without consequence.
Here’s my prediction…when this ship catches fire again (for the last time) those that make it off will drown. The awake masses will see to it.
Time for these rotten bastards to disappear for several hundred years…again.