Buffett's Berkshire Hathaway buying Heinz

  @CNNMoney February 14, 2013: 8:19 AM ET

Ketchup maker H.J. Heinz Co. agreed to be purchased for $28 billion Thursday by a consortium including Warren Buffett's Berkshire Hathaway and private equity firm 3G Capital.

Heinz (HNZ, Fortune 500) shareholders will receive $72.50 a share in cash, a 20% premium over Wednesday's closing price, which was already near Heinz's record high. It will keep Heinz's headquarters in Pittsburgh.

Shares of Heinz shot even higher, to $72.90 a share, in premarket trading on the news. Shares of Berkshire (BRKA, Fortune 500) were not trading pre-market.

Berkshire has investments in a number of high-profile companies, including Deere & Co. (DE, Fortune 500), IBM (IBM, Fortune 500) and Procter & Gamble (PG, Fortune 500). But it also owns a number of companies outright, including fast-food chain Dairy Queen, insurer GEICO and the railroad company Burlington Northern Santa Fe.

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