FORTUNE -- Two billionaires -- business and personal friends who live on separate continents -- announced today that their companies would jointly buy H.J. Heinz Co. for $28 billion, including the assumption of $4 billion in debt.
The two dealmakers are Warren Buffett and the Brazilian/Swiss businessman and philanthropist Jorge Paulo Lemann. Buffett's Berkshire Hathaway (BRKA) will own 50% of the venture, and 3G Capital, in which Lemann is a principal, will hold the remainder.
The Lemann group will also play a role in Heinz's management, working with the company's CEO, William R. Johnson.
The all-cash deal will pay Heinz shareholders $72.50 a share, which is just under a 20% premium to Heinz's closing price yesterday, $60.48. Yesterday's price was near the all-time high for Heinz, which has roughly doubled since the stock market's bottom in March, 2009.
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What is not being reported is that
just newly installed Secretary of State John F-ing Kerry stands to benefit
from this sale. Kerry, who served in Vietnam and resembles Lurch
from "The Adam's Family" married the widow Teraaaaaayza Heinz who
still owns Heinz stock - the exact number has been hard to
locate. Teraaaaaaaayza had married now room temperature
Senator Heinz, descendant of the original Heinz who made this type of paint
free Ketchup popular, and she stands to make a fortune from this sale - at a
price that is reported to be 20% premium over the market rate.
Warren Buffet is a major
contributor to the Obama campaigns and has been used as a political prop for
the regime and has long advocated for higher taxes on the rich even though he
is fighting paying $1 billion in taxes he owes and who has allowed himself to
pay a lower rate in taxes than his secretary.
Update 2/15 - Here
is an article that
chronicles the limited information about how Kerry and Teraaaaaaaayza will
benefit from this deal.
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