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News Breaks | | | | February 15, 2013 | | 16:38 EDT |  | HNZ | SEC freezes assets in Swiss account related to trading ahead of Heinz deal
The Securities and Exchange Commission obtained an emergency court order to freeze assets in a Zurich, Switzerland-based trading account that was used to reap more than $1.7M from trading in advance of yesterday’s public announcement about the acquisition of H.J. Heinz Company (HNZ). In a complaint filed in federal court in Manhattan, the SEC alleges that prior to any public awareness that Berkshire Hathaway and 3G Capital had agreed to acquire H.J. Heinz in a deal valued at $28B, unknown traders took risky bets that Heinz’s stock price would increase. The traders purchased call options the very day before the public announcement. After the announcement, Heinz’s stock rose nearly 20% and trading volume increased more than 1,700% from the prior day, placing these traders in a position to profit substantially. The SEC alleges that the unknown traders were in possession of material nonpublic information about the impending acquisition when they purchased out-of-the-money Heinz call options the day before the announcement. Reference Link | |
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| May 24, 2013 | | 09:49 EDT | | HNZ | Heinz receives Chinese regulatory approval for acquisition of Heinz by Berkshire
Heinz (HNZ) announced that it has received regulatory approval from the Chinese Ministry of Commerce for the acquisition of Heinz by an investment consortium comprised of Berkshire Hathaway (BRK.A) and an investment fund affiliated with 3G Capital. The transaction remains subject to certain customary closing conditions, including receipt of certain remaining regulatory approvals, and is now expected to close in early- to mid-June. Heinz has received antitrust clearance in the United States, Brazil, India, South Korea, Japan, Israel, Mexico, South Africa and Ukraine, and other regulatory approvals in Russia, New Zealand and Ireland. The Company is waiting for antitrust clearance in the European Union and Russia. The merger agreement between the parties was first announced on February 14 and was overwhelmingly approved by Heinz shareholders on April 30. | | | May 21, 2013 | | 12:47 EDT |  | HNZ | Options with increasing implied volatility: UNXL NCT LYV HBAN HNZ
| | | May 17, 2013 | | 13:21 EDT | | HNZ | Options with increasing implied volatility: CPRT BMY GDI HNZ
 Subscribe for More Information | | | May 13, 2013 | | 11:12 EDT | | HNZ | Options with increasing implied volatility: BKS FIO SOHU AGNC HNZ
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