buffet

After the SEC announced a probe into irregular trading activities ahead of the Heinz acquisition by Warren Buffett, the FBI said it is launching its own investigation. The two agencies will cooperate to find out if insider information was used to make a $1.7 million profit in one trade.

Warren Buffett’s company Berkshire Hathaway and investing firm 3G will take packaged food maker H.J. Heinz private for a cash consideration of $23 billion.