Billionaire investor Warren Buffett said Monday a misunderstanding may have led to Unilever’s rejection of Kraft Heinz’s merger bid.
In a wide-ranging interview on CNBC’s “Squawk Box,” Buffett said the bid for Unilever was not intended as a “hostile offer,” but “it may have been interpreted that way.”
“I can’t argue about that, but if people say ‘we don’t like the price,’ that’s usually a ‘maybe,” the Berkshire Hathaway chief said.
Berkshire Hathaway and 3G Capital Partners, a private equity firm, are the largest stakeholders in Kraft Heinz.
The latter’s CEO, Alexandre Behring, first approached Unilever with a merger bid and hadn’t been “thrown out,” Buffett said. Kraft Heinz followed through with a formal offer.
Kraft Heinz announced Feb. 17 it had presented Unilever with a $143 billion merger proposal, which Unilever promptly rejected.
“After that Friday, I got a call indicating that the offer was unwelcomed,” Buffett said. “It became very apparent that Unilever did not want this offer.”
By Fred Imbert
Source: CNBC
Heineken has named Guillaume Duverdier as its new regional president for Africa Middle East (AME), effective 1 July 2025. Duverdier will also join the company’s executive team, succeeding Roland Pirmez, who is retiring after 29 years with the brewer.
The transaction, of which the financial terms were not disclosed, includes seven facilities in total: three dry corn milling facilities in Nebraska, Kansas and Illinois; three dry masa facilities in Texas, Indiana and Iowa; and a transload and packaging facility in Mexico. The dry corn milling division will continue to be headquartered in St Louis, Missouri.
As part of the changes, Elizabeth Duggan, current senior vice president and general manager, will now be president of the company’s snacks division as of 12 May, taking over from Chris Foley, who will step down in July after 25 years with Campbell’s.
