Individual investors are getting another lesson in the joy of boring, as Warren Buffett, the master of banal who's only one of the richest people on earth, said he'll be part of a group that's buying ketchup maker H.J. Heinz (HNZ).
Who cares. Nobody, unless you're one of the folks getting a 20% surge today and a nearly 19% premium to the best level the stock has ever reached. In this case, the $28 billion deal, including assumed debt, will see Pittsburgh-based Heinz bought for $72.50 a share by Buffett's Berkshire Hathaway (BRK-A) and investment firm 3G Capital. Its highest-ever close was $61, a record set earlier this month and one that will be a distant memory by the end of trading Thursday.
If you had Heinz yesterday, good for you -- but not just for what's transpired with the buyout. If you've been around for any length of time, you've had a stock that's climbed six of the past seven years, with a five-year mean increase of 5.2%. It tends to raise its dividend on a regular basisRead More »from Heinz: So Boring It Just Makes Money