A major shareholder in US food conglomerate Kraft has vetoed a move by the company to issue 370 million additional shares in a bid to raise money to buy UK based chocolate maker Cadbury.
Berkshire Hathaway – the US investment firm fronted by billionaire business mogul Warren Buffet – owns 9.4 per cent of the shares in Kraft, which it says makes it the biggest shareholder. A meeting has been arranged for Friday during which all shareholders will vote on the share issue but Berkshire released a statement today…
This content is for subscribers only. Subscribe now for free to read the full article.
Already a subscriber? Login
