Warren Buffett and a fellow billionaire are teaming up to snap up the Heinz ketchup company, marking the food industry’s biggest ever deal and yet another sign that the lifeless merger market is finally picking up.
H.J. Heinz announced Thursday a $23.3 billion deal to be purchased by Buffet’s Berkshire Hathaway and 3G Capital, which was co-founded by Jorge Lemann, one of Brazil’s richest men. The news came the same day that American Airlines and U.S. Airways announced their $11 billion merger. Just a little over a week ago, Michael Dell said he struck a deal to buy the computer company that he founded and bears his name.
