Having already received antitrust clearance from the U.S., Brazil, India, South Korea, Japan, Israel, Mexico, South Africa and Ukraine, H.J. Heinz said it has now obtained regulatory clearance from China as well to pave the way for its ...
Having already received antitrust clearance from the U.S., Brazil, India, South Korea, Japan, Israel, Mexico, South Africa and Ukraine, H.J. Heinz said it has now obtained regulatory clearance from China as well to pave the way for its acquisition by Warren Buffett's Berkshire Hathaway 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.
