Kraft shareholders will vote July 1 on Heinz merger

SHARE Kraft shareholders will vote July 1 on Heinz merger
KRAFTHEINZ_999x666.jpg

Shareholders of Northfield-based Kraft will vote July 1 on the proposed merger with H.J. Heinz. | AP file photo

Shareholders of Northfield-based Kraft will vote July 1 on the proposed merger with H.J. Heinz. | AP file photo

Shareholders of Northfield-based Kraft Foods will vote July 1 on whether to sell their company to ketchup maker H.J. Heinz Co.

The deal announced in March will create one of the world’s largest food companies with revenue of about $28 billion.

Heinz’ owners, Warren Buffett’s Berkshire Hathaway and Brazilian investment firm 3G Capital, engineered the deal and will control 51 percent of the new Kraft Heinz Co.

If the deal is approved, Kraft shareholders will receive stock in the combined company and a special cash dividend of approximately $10 billion, or $16.50 per share. Each share of Kraft will be converted into one share of Kraft Heinz.

After the merger, the new company will be listed as “KHC” on the Nasdaq stock market.

The Latest
Only two days after an embarrassing loss to lowly Washington, the Bulls put on a defensive clinic against Indiana.
One woman suffered a gunshot wound to the neck. In each incident, the four to five men armed with rifles, handguns and knives, approached victims on the street in Logan Square, Portage Park, Avondale, Hermosa threatened or struck them before taking their belongings, police said.
For as big of a tournament moment as Terrence Shannon Jr. is having, it hasn’t been deemed “madness” because, under the brightest lights, he has been silent.
This year, to continue making history, the Illini will have to get past No. 2-seeded Iowa State.