H.J. Heinz said it will be holding a special meeting with shareholders on April 30 to provide chance to investors to vote on the ketchup giant manufacturer's acquisition by American businessman Warren Buffet in a $28 billion deal.
In February, it was announced that Buffet-owned companies Bershire Hathaway and 3G Capital will buy out H.J. Heinz for $72.50 a share. Under the deal, shareholders are offered with a 19% premium to the all-time high of the company. Once the deal is completed, it is expected to become the largest food acquisition on record.
The buyout transaction of Heinz is facing almost all of the support of the shareholders and no counter bids.
Heinz has been calling for an approval of a non-binding, advisory vote on compensation for executives related to the merger.
The shareholder meeting is scheduled at the New York Offices of Davis Polk & Wardwell at 8.a.m.
Join the Conversation