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H.J. Heinz Company (HNZ) Investor Lawsuit to Halt Takeover by Berkshire Hathaway announced by Shareholders Foundation

H.J. Heinz Company (HNZ) Investor Lawsuit to Halt Takeover by Berkshire
Hathaway announced by Shareholders Foundation

SAN DIEGO, Feb. 20, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc.
announces that an investor in H.J. Heinz Company (HNZ) shares filed a lawsuit
to block the proposed takeover of H.J. Heinz Company by an investment
consortium comprised of Berkshire Hathaway and 3G Capital at $72.50 per HNZ
share.

Investors who purchased a significant amount of shares of H.J. Heinz Company
(HNZ) prior to February 14, 2013 and currently hold any of those H.J. Heinz
Company shares, have certain options and should contact the Shareholders
Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

On February 14, 2013, H.J. Heinz Company announced that it has entered into a
merger agreement to be acquired by an investment consortium comprised of
Berkshire Hathaway and 3G Capital. Under the terms of the agreement
shareholders of H.J. Heinz Company will receive $72.50 in cash for each HNZ
share of common stock they own.

However, the plaintiff alleges that the $72.50-offer is unfair to HNZ
stockholders and undervalues the company. The plaintiff says that HNZ stock
rose nearly 12% since the beginning of 2012 and the company boosted sales to
$11.7 billion in fiscal 2012, a gain of 8.8% from the year before. In
addition, most recently H.J. Heinz Company reported strong operating results
for the second quarter of fiscal 2013, ended October 28, 2012.

According to the complaint, the proposed acquisition is being driven by the
Board and Company management in order to secure liquidity for their illiquid
holdings in H.J. Heinz Company. The plaintiff claims that from the sale of
their illiquid block of shares in the proposed acquisition, the Board of
directors and Company management will receive more than $400 million.

In addition, the plaintiff alleges that to ensure Berkshire Hathaway and 3G
Capital, and only Berkshire Hathaway and 3G Capital, acquire H.J. Heinz
Company, defendants included several deal protection devices in the Merger
Agreement, such as a no-solicitation, an information and matching rights, and
massive $1.4 billion termination fee provision, that ensure that no competing
offers will emerge for the Company.

Those who currently are investors in H.J. Heinz Company (HNZ) shares and
purchased a substantial amount of HNZ shares before the announcement have
certain options and should contact the Shareholders Foundation.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring
and settlement claim filing service, which does research related to
shareholder issues and informs investors of securities class actions,
settlements, judgments, and other legal related news to the stock/financial
market. The Shareholders Foundation, Inc. is not a law firm. The information
is provided as a public service. It is not intended as legal advice and should
not be relied upon.

The Shareholders Foundation, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6931

CONTACT: Shareholders Foundation, Inc.
         Trevor Allen
         +1 (858) 779-1554
         mail@shareholdersfoundation.com
         3111 Camino Del Rio North
         Suite 423
         San Diego, CA 92108

SF logo