Kraft Heinz Turns Into A Hedge Fund Favorite As Buffett And 3G Mix Ketchup With Macaroni
ByHedge funds are eyeing Kraft Foods KRFT -0.82% ahead of the close of its planned merger with 3G Capital andBerkshire Hathaway -backed ketchup maker Heinz, a deal that will give current shareholders a 49% stake in what could become a global foods powerhouse and an industry consolidator.
When the mostly-stock deal was announced in late March, Kraft surged over 30% amid optimism about potential synergies from the merger and calculations on the combined company’s valuation. However, a growing crowd of value oriented investors appear comfortable owning Kraft Foods even after its initial stock pop, expecting that the company’s new owners will be able to improve profits and also find areas of growth, either through geographic and product expansion, or merger and acquisition activity…
Kraft Heinz Turns Into A Hedge Fund Favorite As Buffett And 3G Mix Ketchup With Macaroni
