Beanz Meanz Fines? FBI investigates possible insider trading on Heinz deal


The Federal Bureau of Investigation (FBI) is investigating whether insider trading took place in Heinz shares ahead of the food giant's historic deal with Warren Buffett's Berkshire Hathaway.

Berkshire Hathaway and investment firm 3G agreed to pay $23bn in cash for the ketchup maker last week. However, shortly after the merger was announced options market traders noticed there had been unusual activity the previous day. The US Securities and Exchange Commission (SEC) has filed a suit against traders who used a Goldman Sachs account in Switzerland to trade on possible insider knowledge of the deal. However, in the latest twist, the FBI has said it will now join the investigation, stating it is aware of "trading anomalies." "The FBI is aware of trading anomalies the da...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Economics / Markets

The average G20 country will see inflation fall from 7.8% last year to 6.1% this year

UK faces ongoing higher inflation than most G20 countries

2023 forecast from OECD says UK will avoid recession

Elliot Gulliver-Needham
clock 07 June 2023 • 1 min read
Inflation drops to 8.7% in April but remains above expectations

Inflation drops to 8.7% in April but remains above expectations

Latest Office for National Statistics data released

Professional Adviser
clock 24 May 2023 • 2 min read
Between 2009 and 2022, the Bank helped the Treasury earn more than £100bn in profit thanks to historically low interest rates.

BoE projects £100bn payment from Treasury to cover QE losses

Govt needs to pay almost £30bn a year in 2023, 2024 and 2025

Valeria Martinez
clock 03 May 2023 • 2 min read