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Berkshire Hathaway Inc. Likely to Partner with 3G Capital Again
Warren Buffett, chairman of Berkshire Hathaway Inc., who joined 3G Capital last year in a $23.3 billion takeover of ketchup maker HJ Heinz Co., said that he would welcome more deals with the buyout firm. According to Bloomberg News, Buffet is widely considered the most successful investor of the 20th century. Warren Buffett provided financing on the deal, which included $8 billion for preferred shares that pay a 9 percent annual dividend.
Berkshire Hathaway Inc. wholly owns GEICO, BNSF, Lubrizol, Dairy Queen, Fruit of the Loom, Helzberg Diamonds and NetJets, owns half of Heinz and an undisclosed percentage of Mars, and has significant minority holdings in American Express, The Coca-Cola Company, Wells Fargo, and IBM. Berkshire Hathaway is the Coca-Cola beverage maker’s largest shareholder with a 9% stake, according to the Wall Street Journal.
“We’re very likely to partner with them, perhaps on some things that are very large,” said Warren Buffett yesterday at his company’s annual meeting in Omaha, Nebraska. According to a report by Bloomberg News, Warren Buffett, 83, reported that, “3G does a magnificent job of running businesses.”
“There’s no question that it’s a different style than Berkshire, and I don’t think it would pay to blend the two,” reported Warren Buffett, who is also called the “Wizard of Omaha.”
The chairman and chief executive officer of Gamco Investors Inc, Mario Gabelli, said that Warren Buffett should consider acquiring General Mills, Inc. according to Reuters.
According to Warren Buffett, Berkshire Hathaway Energy, led by Greg Abel, will have more opportunities to pursue takeovers. Warren Buffet is Berkshire’s chairman and chief executive officer as well as the world’s third-richest man. In 2012, American magazine Time named Buffett one of the most influential people in the world. “We are finding things to do that sop up the cash,” said Buffett, according to Bloomberg News. Buffet is one of the funders of the Gates foundation, aimed at doing humanitarian work around the globe.
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Image credit: www.themalaysianinsider.comBerkshire Hathaway Inc. Likely to Partner with 3G Capital Again by Jaan