Today BRK decided to announce their intention to purchase HNZ . The deal sums to 23 billion and involves both BRK and G3 capital. Furthermore, the firm is estimated to be taken out at $72.50. HNZ is the maker of the iconic red ketchup and Ore-Ida fries. Shares are currently trading above the proposed deal price, which could imply that other firms may be interested in jumping into the bidding action.
The lead bankers are JPM, LAZ and WFC. The increase in financial activity can also mean larger fees for the investment banks, for in M&A it is feast of famine.
In related news, many other deals have gone through. DIS recently inked a deal with NFLX. And just this week, cmcsa and GE finished talks about NBC universal.
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Mark Salerno
salerno.mark.a@gmail>