When is heinz deal expected to close

Sales grew 6. Adjusted net earnings rose to 80 cents per share from 72 cents per share a year earlier, beating estimates of 74 cents per share. Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. More from Reuters.

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The Heinz deal and the American Airlines-US Airways merger add to an already strong start for merger activity this year.

The deal is a departure for Berkshire Hathaway. Generally, Buffett prefers to buy entire companies and then allow the businesses to continue operating much the way they did before. Berkshire has also helped finance deals before — most recently during the financial crisis of , when he made lucrative deals for Berkshire when few other companies had cash.

Heinz said the deal was unanimously approved by its board. Funk reported from Omaha, Neb. Sections U. Science Technology Business U. Connect with the definitive source for global and local news. The Associated Press.