H.J. Heinz (UNKNOWN:HNZ.DL) has called a special meeting of its shareholders to vote on the $28 billion merger agreement tendered by a consortium headed by Warren Buffett's Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B).
The meeting is set for April 30 at 8 a.m., Eastern Time, at the offices of Davis Polk & Wardwell LLP at 450 Lexington Ave., New York, N.Y. Shareholders can also vote by proxy. This SEC filing lays out more detail.
Heinz also announced yesterday that it had received an early termination of the waiting period under the Hart-Scott-Rodino Antitrust Act.
The offer from Berkshire and 3G Capital is effectively an acquisition. If it is approved, Heinz shareholders will be paid $72.50 in cash for each share of the company's common stock. All told, the value of the transaction is pegged at approximately $28 billion, including the assumption of the condiments maker's outstanding debt.
Heinz shareholders of record as of March 18 are eligible to vote on the merger agreement.