- Warren Buffett's Berkshire Hathaway Inc. is now H.J. Heinz Co's majority shareholder, as Berkshire purchased another 5.4% of outstanding common stock for a 52.5% overall stake.
- Berkshire exercised a warrant to pay about a penny a share, receiving 46.2 million shares for $462,000.
- That warrant was a part of Berkshire's $23 billion acquisition of Heinz in conjunction with Brazilian private equity firm 3G Capital in 2013.
Berkshire's move for majority stake ownership has gone into effect less than two weeks before Kraft Foods Group shareholders are set to vote to approve a merger with Heinz to create one of the world's largest food companies.
If this merger takes place, Heinz shareholders will own a 51% stake in the combined company, The Kraft Heinz Co., and Berkshire would own a 27% stake in the company. 3G will be at the helm of day-to-day operations, in which it intends to slash costs for Kraft.