Heard during the Heinz (HNZ +19.9%) press conference: Though the largest acquisition in the...

|By:, SA News Editor

Heard during the Heinz (HNZ +19.9%) press conference: Though the largest acquisition in the history of the food business is explained by Heinz execs as a new opportunity for the company to expand its global reach and a way for it to make key decisions quicker, at the end of the day it looks like the offer price was just too good to pass up. From start to finish, the deal was struck within 8 weeks. 3G Capital says it sees long-term value in Heinz, but won't disclose yet on what cost-cutting measures it will implement. (webcast)