H.J. Heinz shareholders have overwhelmingly voted to approve the company's acquisition by investors — led by Berkshire Hathaway and 3G Capital — with about 95% of the votes cast at a special stockholders meeting being in favor of the acquisition.
Heinz shareholders will receive $72.50 per share of Heinz stock in a deal valued at $28 billion, including the assumption of debt (Feedstuffs, April 22).
The transaction has received regulatory clearance in the U.S. but remains subject to regulatory review in certain other countries. It is expected to be completed late in the second quarter or early in the third quarter of this year.
Heinz, headquartered in Pittsburg, Pa., manufactures and markets the iconic Heinz ketchup and Heinz sauces, soups, beans and pasta as well as Ore-Ida potato products. It had fiscal 2012 sales of $11.6 billion.
Equity investor 3G Capital owns Burger King Worldwide Inc.