Deals
Heinz CEO Johnson May Reap $100 Million From Buyout
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Having turned around H.J. Heinz Co., Chief Executive Officer Bill Johnson may reap about $100 million from the company’s buyout.
Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital Inc. agreed to buy the iconic ketchup maker for about $23 billion. The billionaire buyers will pay $72.50 a share, compared with yesterday’s closing price of $60.48, according to a statement yesterday. Johnson, 64, held 1.38 million Heinz shares as of Dec. 17, according to data compiled by Bloomberg News. His total compensation in the fiscal year ended in March was $16.2 million, including $1.3 million of salary.