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IN BRIEF / FOOD

Nelson Peltz Pursues 5 Seats on Heinz Board

March 04, 2006|From Reuters

Billionaire investor Nelson Peltz stepped up his drive to squeeze more value out of his holdings by seeking five seats on the board of H.J. Heinz Co. a day after getting Wendy's International Inc. to accept his choices.

The company said Peltz, who controls less than 5% of Heinz shares, notified it that he wanted five directors on the board of the ketchup maker, including himself and professional golfer Greg Norman.

Heinz shares rose 88 cents to $38.23.

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