Lates News

Warren Buffett expressed his "disappointment" with Kraft Heinz's decision to split into two companies - a move that essentially reverses his push for the merger in 2015, which ultimately became one of his biggest investment mistakes. On Tuesday, Buffett mentioned in a private phone call with Squawk Box that he was also disappointed that the split did not require a shareholder vote. Berkshire Hathaway currently holds a 27.5% stake in Kraft Heinz, valued at approximately $8.9 billion, making it the largest shareholder in the food giant. Buffett stated that before Kraft Heinz made its final decision, Greg Abel, the CEO successor for Berkshire Hathaway, had directly expressed opposition to the Kraft Heinz management team.