Warren Buffett said Monday that his Berkshire Hathaway company may have "overpaid" for Kraft when the Kraft Heinz Company was created three years ago.
"We overpaid for Kraft. We wrote down $15 billion for that. We misjudged it," Buffett said on an interview with CNBC this morning.
Buffett and Berkshire Hathaway (NYSE: BRK) now own about 27 percent of Chicago- and Pittsburgh-based Kraft Heinz (Nasdaq: KHC) but he said he has no intention of selling his stake.
Kraft Heinz has been reeling of late.
