My understanding is that this is a cash buyout plan. That means you get cash. Then you're stuck trying to find an investment that's at least as good as HNZ in today's investment climate.
I'm stuck too -- I like the idea of a nice healthy dividend that increases every year. Where else am I going to get that kind of relatively safe, growing income? HNZ is one of my very favorite holdings. I don't blame Buffett for wanting to buy it, but I want to hold onto my shares!!!!!! It's a "forever" stock. Ketchup never becomes obsolete, and the demand for ketchup never becomes saturated in the market. What more can you ask of a "perfect retirement stock"?
I think I will sell now to lock in that $12 per share jump. Because if the deal does not go through, it will plummet back to around $60 per share. If it does, you'd own the increased amount in Berkshire Hathaway class B shares.