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Berkshire’s Buffet Says He’s In The Ketchup Business For The Long Haul

March 1, 2014: 12:00 AM EST
Warren Buffet, in a letter to Berkshire Hathaway shareholders, said he expects recent acquisition H.J. Heinz Company to be a long-term investment. Buffet purchased Heinz with Brazilian investor 3G Capital last year, both parties paying $4.25 billion for common shares. But Berkshire  put in an additional $8 billion to acquire dividend-paying preferred shares. Noting that some 3G investors may be selling their shares in the near future, Buffett said in a letter to Berkshire investors that he would be interested in acquiring those shares, boosting his stake in the U.S. ketchup company for the long term.
Stephen Gandel, "Buffett: We'd like to own more of Heinz", Fortune CNN Money, March 01, 2014, © Cable News Network. A Time Warner Company
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