Today, Kraft said it would sell pizza brands, including DiGiorno and Tombstone, to Nestle SA and use the proceeds from the $3.7 billion deal to add cash to their bid.
The top stockholder in Kraft, Buffett’s Berkshire Hathaway Inc, voted against the proposal to issue as many as 370 million shares for Cadbury, saying it would endorse a transaction that didn’t “destroy value for Kraft shareholders.”
Stocks of Kraft were up 84 cents, or 3.08 percent, to $28.27. Cadbury shares were down $1.85, or 3.58 percent, to $49.80. Berkshire was up 97 dollars, or .1 percent, to $99,697.
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