Berkshire becomes Heinz's top owner

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Reuters
Last Updated : Jun 19 2015 | 12:49 AM IST
HJ Heinz Co said that Warren Buffett's Berkshire Hathaway Inc has become its majority shareholder by exercising a warrant ahead of the ketchup maker's planned merger with Kraft Foods Group Inc.

In a regulatory filing, Heinz said Berkshire exercised a warrant to acquire about 46.2 million shares for nearly $462,000 this week. Heinz said the shares represent about 5.4 per cent of its outstanding common stock, and that their issuance gives Berkshire a 52.5 per cent overall stake. The warrant was issued in connection with Heinz's $23 billion acquisition by Berkshire and Brazilian private equity firm 3G Capital in 2013.

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First Published: Jun 19 2015 | 12:03 AM IST

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