ACCC keeps its eye on Heinz-Kraft $59b merger

 In Australia, NewZealand
The competition regulator is keeping an eye on a proposed mega-deal that would create the world’s fifth-largest food and beverage company.
The privately held H.J. Heinz will merge with the listed Kraft Food Group to create Kraft Heinz, it was announced overnight, in a deal that valued Kraft at about $US46 billion ($59 billion) before net debt.
Billionaire investor Warren Buffett’s Berkshire Hathaway and private equity firm 3G Capital, which bought Heinz in 2013, will invest $US10 billion into the deal to take a 51 per cent stake. Kraft shareholders will retain the rest.  Sydney Morning Herald – Read more…

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