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By Chuck Mikolajczak and April Joyner
NEW YORK (Reuters) – Shares of Kraft Heinz Co (O:) spiked more than 4% on Friday after a fake Twitter account closely resembling that of financial publication Barron’s said the food company had been approached for a buyout.
The company’s stock rose to a session high of $30.30 at around noon, minutes after the tweet from “@barronsfinance,” an account with more than 5,000 followers on Twitter. The account uses a similar logo to the official Barron’s account, which goes under the handle “@barronsonline.”
The tweet was later deleted.
A spokesman for Kraft Heinz declined to comment. A spokeswoman for Jones & Company, the publisher of Barron’s, said @barronsfinance was not affiliated with the publication.
A Twitter message to @barronsfinance was not immediately returned. It was unclear who was behind the Twitter account.
Kraft Heinz shares were recently up 2.1% and volume on the session was over 10 million shares, about 1.5 times its 10-day average of about 7.04 million shares.
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