Buffett admits overpaying for Kraft: Financial Times


Warren Buffett said Berkshire Hathaway overpaid for Kraft’s merger with Heinz, the Financial Times reported. “We overpaid for Kraft,” the story quoted Buffett saying on CNBC. The so-called Oracle of Omaha added that he was “wrong in a couple of ways on Kraft Heinz.”  Buffett and 3G Capital acquired Kraft in 2015 to merge with Heinz. The deal valued Kraft at $62.6 billion. “Anything, almost anything at a price can be good, not everything,” Buffett said on CNBC. “But everything at a certain price can be bad. If you pay too much, you pay too much and that doesn’t change.”