Kraft Heinz Spills Beans on Berkshire's Possible Share Sale; Stock Drops
Kraft Heinz shares dropped after the food company said in a regulatory filing that its biggest stockholder-Berkshire Hathaway-could sell nearly all of its shares.
The investment conglomerate's stake in Kraft Heinz totals 325.6 million shares, according to FactSet, representing more than 27% of the company's shares. Kraft Heinz's Securities and Exchange Commission filing said Berkshire could sell up to 325.4 million shares.
Shares in the maker of Heinz Tomato Ketchup and Kraft Mac and Cheese fell roughly 3.5% in premarket trading Wednesday...
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