Warren Buffett says he is ‘disappointed’ in Kraft Heinz split

Kraft Heinz Restructuring & Berkshire Hathaway's Perspective - Kraft Heinz is splitting into two companies, reversing the original merger envisioned by Warren Buffett [1] - Berkshire Hathaway, the largest shareholder with 275%, is disappointed with the split and the lack of a shareholder vote [2][10] - Implementation of the split is estimated to cost $300 million and take about a year [6] - Warren Buffett believes taking the company apart won't fix the issues [6] Stock Performance & Shareholder Structure - Since the merger in 2015, Kraft Heinz stock is down approximately 70% [7] - The stock is down about 20% this year and 36% on the day of the news [7][14] - Other major shareholders include Vanguard Group (86%), BlackRock Institutional (43%), and State Street (39%) [11] - Berkshire Hathaway has not sold or bought any stake in Kraft Heinz [10] Berkshire Hathaway's Involvement & Disapproval - Berkshire Hathaway's representatives resigned from the Kraft Heinz board on May 19th [9] - Warren Buffett admitted he was wrong about the Kraft Heinz merger and that Berkshire Hathaway overpaid for Kraft [18] - Berkshire Hathaway wrote down its investment in Kraft Heinz by several billion dollars [18] - Berkshire Hathaway feels its opinion is being ignored despite its large stake [14]