Major Shareholder Warren Buffett Warns Kraft Heinz Split Won't Fix Struggles, Despite Management's Push

Warren Buffett criticized the planned break-up of The Kraft Heinz Company (KHC) on Tuesday, saying he is "disappointed" with a move that effectively unravels the 2015 merger he helped engineer. Shares of the packaged-food giant slipped following his remarks. Buffett told CNBC that while the merger fell short of expectations, he does not believe splitting the company will solve its challenges. The Berkshire Hathaway Inc. chief, whose firm owns about 27.5% of Kraft Heinz, said the deal "didn't turn out to be a brilliant idea" and added that dismantling the company is unlikely to be a cure-all. Buffett also noted...