A premature leak of the Kraft Heinz bid for Unilever has resulted in the offer being withdrawn. The takeover proposal by 3G Capital (Brazil), with the likely financial backing of Berkshire Hathaway and Warren Buffett, was being pursued as a friendly offer. Both 3G Capital and Mr. Buffett avoid hostile takeovers.
There are many attempts at negotiated deals that fail and are never revealed to the public. For example, Warren Buffett previously mentioned that about three years ago Berkshire Hathaway came close to negotiating a large, friendly acquisition. Berkshire, however, was unable to conclude that deal. Apparently, this was an effort by Mr. Buffett to “unload his elephant gun” (for a $20 billion transaction). The name of the friendly takeover target was not revealed.
David Einhorn's Greenlight Capital funds were up 11.9% for 2021, compared to the S&P 500's 28.7% return. Since its inception in May 1996, Greenlight has returned 1,882.6% cumulatively and 12.3% net on an annualized basis. Q4 2021 hedge fund letters, conferences and more The fund was up 18.6% for the fourth quarter, with almost all Read More
Article by Dr. David Kass