Buffett Builds Heinz Stake to 52.5% With Penny-a-Share Warrant
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Berkshire Hathaway Inc. increased its stake in H.J. Heinz to about 52.5 percent as billionaire Warren Buffett exercised a warrant in the ketchup maker ahead of its planned merger with Kraft Foods Group Inc.
Buffett was able to add a 5.4 percent stake in Heinz for 1 cent a share under terms of the 2013 deal when Berkshire and 3G Capital took the food company private. He purchased 46.2 million shares for about $462,000, Pittsburgh-based Heinz said in a regulatory filing Thursday.