FILE- In this Monday, July 18, 2011, file photo, Warren Buffett is interviewed in the White House Briefing Room in Washington, following a meeting with President Barack Obama. (AP Photo/Pablo Martinez Monsivais)
NEW YORK (AP) -- H.J. Heinz Co. says it agreed to be acquired by an investment consortium including billionaire investor Warren Buffett in a deal valued at $28 billion.
The ketchup company said Heinz shareholders will receive $72.50 in cash for each share of common stock they own. The deal value includes the assumption of Heinz's debt. Based on Heinz's number of shares outstanding, the deal is worth $23.3 billion excluding debt.
The per share price represents a 20 percent premium to Heinz's closing price of $60.48 on Wednesday.
Berkshire Hathaway and 3G Capital say Heinz will remain headquartered in Pittsburgh.
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