Judge: Heinz sale can proceed
PITTSBURGH (AP) — A Pittsburgh judge has dismissed multiple lawsuits over the proposed $28 billion buyout of H.J. Heinz Co.
The ruling issued Monday afternoon by Judge Christine A. Ward means that shareholders can proceed with a Tuesday morning vote on the buyout in New York.
Heinz spokesman Michael Mullen says the company expects shareholders to “overwhelmingly approve” the $72.50 per share sale. U.S. authorities have already signed off. The Pittsburgh-based company had announced in February that it was being acquired and taken private by Warren Buffett’s Berkshire Hathaway and 3G Capital.
The lawsuit had claimed that the deal shortchanges shareholders.
U.S. District Judge David S. Cercone previously dismissed similar federal lawsuits.