Seven shareholder lawsuits over the proposed $28 billion takeover of H.J. Heinz were dismissed on April 29, 2013, clearing one of the final hurdles to the sale of a company that has been a Pittsburgh fixture since 1859. Allegheny County Common Pleas Judge Christine A. Ward approved the request of Heinz to dismiss the lawsuits after more than two dozen attorneys representing shareholders, Heinz and the buyers crammed her courtroom for a 2 1/2 hour hearing on April 29, 2013 morning. The lawsuits alleged the Heinz directors who negotiated and approved the deal violated their fiduciary duties to shareholders by not pursuing other offers and by agreeing to pay Berkshire Hathaway and 3G Capital, Heinz's proposed buyers, $750 million if they accept an offer from another bidder. The largest remaining hurdles are a vote by Heinz shareholders, scheduled for this morning in New York, and regulatory approvals, including action by regulators from the European Union and China. Berkshire and 3G are offering Heinz shareholders $72.50 cash for their shares. The $28 billion price tag includes about $5 billion in Heinz debt the buyers will assume. Since Judge Ward dismissed the case, she did not issue a ruling on a motion by attorneys for shareholders to postpone present shareholder vote for 30 days.

Bernardo Hees, CEO of Burger King Worldwide Inc., will replace William Johnson as CEO of H.J Heinz Co. when the acquisition of H.J Heinz is completed. That transaction was announced February 14. 3G had previously acquired Burger King and put Hees at its helm in September 2010. Hees will relocate to Pittsburgh. Johnson will remain as Chairman, President and CEO of Heinz until the transaction is complete. Prior to joining Burger King, Hees was CEO of America Latina Logistica. Bernardo will work closely with Heinz's current Chairman, President and CEO Bill Johnson, and the management team to ensure a smooth transition over the coming months.

Burger King chief executive Bernardo Hees will take the top job at Heinz following its acquisition by investment firm 3G Capital and Warren Buffett's Berkshire Hathaway. Hees, 43, has led Burger King, another 3G Capital investment, since 2010. He will remain at the fast food chain until the deal closes. Likewise, Heinz chairman and CEO Bill Johnson will retain that job until the acquisition of the company closes.