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US: Kraft Heinz deal clears antitrust hurdles

 |  June 9, 2015

The proposed merger of Heinz and Kraft Foods Group has cleared US antitrust hurdles, the companies said in a filing with the US Securities and Exchange Commission on Tuesday.

According to the filing, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired. The expiration of the HSR Act waiting period satisfies one of the conditions of the closing of the proposed transaction. The deal still remains subject to approval by Kraft shareholders, antitrust clearance in Canada and other closing conditions.

The deal, announced March 25 and expected to close in the second half of 2015, will create The Kraft Heinz Co., a public company with sales of $28 billion and headquarters in Pittsburgh and Northfield near Chicago. Heinz CEO Bernardo Hees will be CEO of the combined company. The Kraft Heinz will trade on the Nasdaq exchange under the ticker symbol KHC.

Full content: Pittsburgh Business Times

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