Warren Buffett said Wednesday that he still does not approve of Kraft's $19.5 billion acquisition of Cadbury PLC (NYSE: CBY), but he does not plan to sell his stake in the company.
Buffett's Berkshire Hathaway (NYSE: BRK.A, BRK.B) is Kraft's largest stockholder and he has been open about his belief that the company overpaid for the British chocolate maker.
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In addition, Buffett believes that when Kraft (NYSE: KFT) sold its pizza business to help finance the deal for Cadbury, the company sold it for too little and then did not value Kraft shares high enough when it bid for Cadbury.
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