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.
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.