Brazilians of 3 g Capital and Buffett buy Kraft

The H.J. Heinz Company, controlled by 3 g Capital, Kraft Foods announced that it reached a definitive agreement to merge to create The Heinz Company Kraft.
According to a statement issued by Heinz, the transaction will form the third-largest food and beverage company in North America.
Under the agreement, which was approved unanimously by the boards of Heinz and Kraft, Kraft's shareholders will have a 49% stake in the new company and the current shareholders of Heinz will have 51%.
In addition to shares of the combined company, Kraft's shareholders will receive a special cash dividend of $ 16.50 per share.
According to the Communique, the payment of the special dividend, which will aggregate approximately $ 10 billion, will be financed by 3 g and by Berkshire Hathaway.
The synergy expected by enterprises with the merger includes $ 1.5 billion in annual cost savings by the end of 2017. The transaction, which is subject to shareholder approval of Kraft and regulators, is expected to be completed in the second half of this year.
In pre-market in New York at 7:30 (Eastern), shares of Kraft Foods climbed 15.29% after the announcement of the merger.