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Heinz taken out by Buffet’s Berkshire Hathaway
In the food industry’s largest ever acquisition, the H.J. Heinz Company has agreed to be acquired by an investment consortium of Berkshire Hathaway and 3G Capital.
Heinz shareholders will receive $72.50 a share in cash, a 20% premium to the prior day’s closing price of $60.48, which was at an all time high.
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Meijer invests big in new stores, remodels
GRAND RAPIDS, Mich. — Meijer is investing more than $160 million in new store construction and remodeling.
The investment includes the construction of six new Meijer supercenters and major remodel projects for an additional five stores. Michigan, Indiana and Illinois will each welcome two new Meijer supercenters, with remodel projects planned at an additional four Michigan stores and one Meijer location in Illinois.