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Buffett on Blockbuster Deal - Heinz Is My Kind of Acquisition

February 14, 2013 | About:

Warren Buffett called in to CNBC to discuss the $28 billion Heinz deal. The idea for the deal was born in early December when 3G approached Warren.

The deal involves Berkshire (NYSE:BRK.A)(NYSE:BRK.B) being a 50/50 equity partner with 3G. Berkshire will also own some preferred stock that 3G won't. In essence, Berkshire is both a financing and equity partner.

Buffett is willing to pay a 20% premium to the recent share price because the company has a great group of products and clearly has a moat that is impossible to scale.

Here is Buffett discussing it:

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