Heinz is buying Kraft Foods to create the world's fifth largest food and beverage company, with sales of about $28 billion.
Reports of a deal first came after markets closed on Tuesday. Kraft (KRFT) ended the trading day at $61.33, valuing the company at $36 billion. Shares surged by 33% in premarket trading Wednesday.
Kraft and Heinz merger to create food giant - Mar. 25, 2015
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