- Attorneys representing H.J. Heinz Co. shareholders moved on Friday to sue and stop Berkshire Hathaway and 3G Capital's $23 billion acquisition of the ketchup giant.
- Complaints that were filed asses that the $72.50 per share price that was negotiated for Heinz shares "unfair" and believe that a better price could have been reached.
- The legal action comes as the SEC froze assets in connection with alleged suspicious trading prior to the Heinz deal's announcement.
From the article:
"... The attorneys, representing the Maryland company Hannons Inc. and California man James Clem, wrote in two separate complaints that the $72.50 per share price negotiated for Heinz shares was 'an unfair price' stemming from 'an unfair sales process.' ..."