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but split won't fix it
Warren Buffett told CNBC he's "disappointed" that Kraft Heinz plans to split into two companies, essentially reversing the merger he helped orchestrate in 2015 that has turned out to be one of his biggest investment mistakes.

In an off-camera phone call on Tuesday with "Squawk Box" co-anchor Becky Quick, Buffett said he is also disappointed the split will not be subject to a shareholder vote.

With a 27.5% stake currently valued at $8.9 billion, Berkshire Hathaway is by far the food giant's largest shareholder.

Buffett said Berkshire's CEO-designate Greg Abel expressed their disapproval directly to the Kraft Heinz management team before the final decision was made.

It is extremely unusual for Berkshire, which is almost always a passive investor, to publicly, or even privately, criticize the management of one of its holdings.“ https://link.cnbc.com/public/41448525

With KHC Leadership disrespecting and ignoring our/ Greg & Warren’s 27.5% stake opinion and two Berkshire representatives leaving KHC board recently, I can’t help but think we will soon be selling off the troubled position.

KHC mgt. has not executed for several years and now BRK has impaired relationship, and much less faith and respect of current leadership.

Let’s move on!

Let’s move on!

Probably.

But move on to what exactly? More treasury bills? Even if KHC continues to only provide an IRR of ~6%, that's still better than ~4% (soon to be ~3.75%) in T-bills.

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