Warren Buffett
US billionaire Warren Buffett is set to buy food giant Heinz in a deal worth US$28 billion.
Mr. Buffett's Berkshire Hathaway company and private equity firm 3G have agreed to take over the food company, famous for its ketchup and baked beans.
In a statement, Heinz called the deal "historic", and the largest to date in the food industry.
The takeover has been approved by the company's board, but still needs to be voted on by shareholders.
Mr. Buffett is one of the richest men in the world, having amassed a multi-billion-dollar fortune over decades of investing.
Heinz reports that it sells 650 million bottles of its ketchup worldwide every year, and it is the biggest seller of baked beans in the UK.
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