SAN FRANCISCO - DECEMBER 11: Billionaire investor Warren Buffett talks as Democratic presidential hopeful Hillary Clinton listens onstage at a fund-raising event December 11, 2007 in San Francisco, California. The junior U.S. senator from New York was joined by Buffet, who has not endorsed Clinton and has also hosted a fundraiser for Clinton's chief rival for the Democratic nomination, Sen. Barack Obama of Illinois. Buffet has called both candidates "presidential." (Photo by Justin Sullivan/Getty Images)
It’s safe to say, Warren Buffett knows business.
So when he says he doesn’t like a deal, most people take heed.
But that hasn’t stopped Kraft Foods from sealing a $19.6 billion deal to buy Cadbury, Crain’s Chicago Business reports.
In criticizing the deal, Buffett said he was unsure how the Deerfield based food conglomerate planned to pay the tab. But he stopped short of saying that he would dump his shares.
"If I had a chance to vote on this, I'd vote no," Buffett said. "I think Kraft is still undervalued. I just don't think it is as undervalued as it was three weeks ago."
Kraft defended the deal.