Heinz Gets Chinese Regulatory Approval for Berkshire Acquisition

Having already received antitrust clearance from the U.S., Brazil, India, South Korea, Japan, Israel, Mexico, South Africa and Ukraine, H.J. Heinz (UNKNOWN: HNZ.DL  ) said it has now obtained regulatory clearance from China as well to pave the way for its acquisition by Warren Buffett's Berkshire Hathaway (NYSE: BRK-B  )  and an investment fund affiliated with 3G Capital.

Heinz has also received regulatory approvals in Russia, New Zealand, and Ireland but still awaits antitrust clearance from Russia and the European Union.

Shareholders of the ketchup maker have already approved the merger, which will see Berkshire pay $28 billion for the company, which includes Heinz's debt. The deal was originally announced on Feb. 14 and still remains subject to certain customary closing conditions. It is expected to close in early to mid-June.

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  • Report this Comment On May 25, 2013, at 12:55 PM, econoderp wrote:

    Since when do American companies need the approval of the rest of the world for a merger? Does China ask our permission?

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9/28/2016 4:00 PM
BRK-B $145.28 Down -0.06 -0.04%
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H.J. Heinz Company CAPS Rating: ****