Just Out: "Warren Buffett says Berkshire overpaid for KHC"
"We overpaid for Kraft," Buffett said on CNBC television. "I was wrong in a couple of ways on Kraft Heinz."
Buffett spoke four days after Kraft Heinz took a $15.4 billion writedown for its Kraft and Oscar Mayer brands and other assets, slashed its dividend, and said the U.S. Securities and Exchange Commission was probing its accounting. Kraft Heinz also said a turnaround likely wasn't imminent.
Kraft Heinz tumbled 27.5 percent on Friday, causing Berkshire to lose $4.3 billion on its stake.
Buffett said he had learned about the SEC probe about seven to 10 days before it was announced."
News 
Market Data 
Discover 
