H.J. Heinz and Kraft Foods Group announced on Wednesday that they have entered a merger agreement to create The Kraft Heinz Company and in doing so form the third largest food and beverage company in the US after Pepsico and Tyson Foods.
Under the terms of the agreement, which has been unanimously approved by the boards of both Heinz and Kraft, Kraft shareholders will own a 49% stake in the combined company, and current Heinz shareholders will own 51%. Kraft shareholders will receive stock in the combined company and a special cash dividend of $16.50 per share.…
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