Heinz Shareholders to Vote April 30 on Berkshire, 3G Acquisition
H.J. Heinz has called a special meeting of its shareholders to vote on the $28 billion merger agreement tendered by a consortium headed by Warren Buffett's Berkshire Hathaway .
The meeting is set for April 30 at 8 a.m., Eastern Time, at the offices of Davis Polk & Wardwell LLP at 450 Lexington Ave., New York, N.Y. Shareholders can also vote by proxy. This SEC filing lays out more detail.
Heinz also announced yesterday that it had received an early termination of the waiting period under the Hart-Scott-Rodino Antitrust Act.
The offer from Berkshire and 3G Capital is effectively an acquisition. If it is approved, Heinz shareholders will be paid $72.50 in cash for each share of the company's common stock. All told, the value of the transaction is pegged at approximately $28 billion, including the assumption of the condiments maker's outstanding debt.
Heinz shareholders of record as of March 18 are eligible to vote on the merger agreement.
The article Heinz Shareholders to Vote April 30 on Berkshire, 3G Acquisition originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Berkshire Hathaway and H.J. Heinz. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.