Editorial

15 Feb 2013 Berkshire Hathaway and 3G Capital purchase of HJ Heinz Company

Berkshire Hathaway and 3G Capital purchase of HJ Heinz Company - Warren Buffett and Jorge Paulo Lemann have combined with approximately USD4bn equity from their Berkshire Hathaway and 3G Capital groups respectively to purchase Heinz. The cash offer is at USD72.50 per Heinz, valuing the group at USD28bn. JP Morgan and Wells Fargo have provided committed debt financing. The deal continues this month's series of huge M&A transactions following on from the Dell Inc and Virgin Media deals. This is now the largest private equity deal of all time and the sixth largest deal ever in the food sector. The valuation is significantly above Heinz's all-time high share price. (Davis Polk advised the Target Company).

Financial Centre : New York
Law Firm : Davis Polk
Lawyer : Arthur F Golden

Practice Area : Corporate and M&A
Classification : Financial Buyer Acquisitions
Sub-classification : Public-to-Private
Industry : Food Producers

Advised Party : Target Company
Value : 5000.01-10000.00

Target Company Jurisdiction : United States
Acquiror Jurisdiction : United States, Brazil