Warren Buffett, the billionaire investor and Kraft's biggest shareholder, has attacked the US food group's ￡11.6bn ($18.9bn) takeover of Cadbury, calling the agreement “a bad deal” and declaring he would vote against it if he could.
His comments, in an interview with CNBC yesterday, coincided with a downgrade of Kraft's credit rating by Fitch and sent shares in the company sharply lower.
The legendary investor said: “If I had a chance to vote on this, I'd vote no ... I have a lot of doubts about this deal.”
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