Nearest Support: $72.40
Catalyst: Acquisition Offer >>5 Bargain Stocks to Play the Resurgent U.S. Consumer A big bit of M&A news is coming from Pittsburgh, home to ketchup giant H.J. Heinz ( HNZ). The firm announced today that it would be acquired by a group of investors led by Warren Buffett's Berkshire Hathaway ( BRK.B). The deal gives HNZ shareholders $72.50 in cash, a price that's a 20% premium to yesterday's close. But if you didn't own HNZ last night, don't bother buying it now. As I write, there's a 1-cent risk premium priced into the deal, making the merger arbitrage opportunity completely non-existent for late-to-the-game buyers. This stock isn't likely to deviate from that offer price for the foreseeable future.