BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Warren Buffett Criticizes Kraft Heinz Split Decision Amid Shareholder Concerns
Warren Buffett Criticizes Kraft Heinz Split Decision Amid Shareholder Concerns
14
3
BTCCSquare news:
Warren Buffett voiced strong opposition to Kraft Heinz's decision to split into two companies without shareholder approval during a private conversation with CNBC's Becky Quick. Berkshire Hathaway, holding a 27.5% stake worth $8.9 billion, was notably excluded from the decision-making process. Buffett criticized the move, questioning the $300 million overhead costs and the strategic value of the split.
The market reacted negatively, with Kraft Heinz shares plunging 7.6% intraday before closing the week down 2.4%. The stock has lost 69% of its value since the 2015 merger, underscoring long-term investor dissatisfaction. Berkshire's incoming CEO, Greg Abel, had already expressed dissent to Kraft Heinz management prior to the decision.
By:
