Shareholders Approve Berkshire Deal for Heinz; Shareholder Suits Dismissed

Munger, Tolles & Olson successfully defended seven shareholder lawsuits that were filed in the wake of February’s announcement that Berkshire Hathaway and a fund managed by global investment firm 3G Capital would acquire H.J. Heinz Company, one of the world’s leading producers of convenient and affordable foods. With an enterprise value of $28 billion, it is the food industry’s largest-ever deal. The shareholder suits alleged that Heinz directors violated their fiduciary duty by approving the deal without pursuing other offers. A Pennsylvania state court dismissed the cases on April 29. The next day, Heinz shareholders overwhelmingly voted in favor of the deal.

The litigation was handled by George M. Garvey and Robert L. Dell Angelo.

The deal team included Robert E. Denham, Mary Ann Todd, Judith T. Kitano, Stephen D. Rose, Brett J. Rodda and Sarah L. Graham.