H.J. Heinz Company will be purchased by a group of investors that includes 3G Capital and Warren Buffet’s Berkshire Hathaway.
Shareholders will receive $72.50 cash per share. The stock closed Wednesday, February 13, 2013 at $60.48 per share but skyrocketed to $72.90 per share in pre-market trading the next day.
A statement on the Heinz website said the investors pledged to keep the company’s global headquarters in Pittsburg, Pennsylvania.
The company has facilities in Muscatine and Cedar Rapids, Iowa and in Arlington Heights, Illinois.
The deal is subject to shareholder approval, and is expected to close in the third quarter of 2013.
Bershire Hathaway has investments in other high-profile companies, including Deere & Co.