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Billionaire investor Warren Buffett is disappointed that Kraft Heinz (NASDAQ:KHC) has decided to split. Kraft Heinz shares fell 5%.
Buffett is Kraft Heinz's largest shareholder with a 27.5% stake. He's disappointed that the company has decided to go forward with a split and that shareholders don't get to vote on it, according to a CNBC report, which cited an interview with the billionaire.
"If we are approached about selling our shares, we woulnd't accept the block bid unless the same offer is made to other Kraft Heinz holders," Buffett told CNBC. "It certainly didn't turn out to be a brilliant idea to put them together, but I don't think taking them apart will fix it."
seekingalpha.com - Warren buffett disappointed with kraft heinz split report 