- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Buffett's Wealth and Fame Hasn't Helped 'Warren' As a Name
- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University
- Warren Buffett to CNBC: Curbing Fed's Independence Could Lead to 'Mischief'
- Warren Buffett to Co-Chair Goldman Sachs Program to Help Small Businesses
- Warren Buffett: 'Reasonable Return is Good Enough' for Long-Haul Railroad Ride
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- Warren Buffett's Berkshire Portfolio Snapshot Coming Later Today
- Warren Buffett to CNBC: 'I Haven't Bought American Express In Years'
RSS FEED
MOST SHARED
- Kuoni CEO Sees Recovery in Travel Sector
- Gold Retreats from Record High as Dollar Rebounds
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- Chinese Overcapacity is Worsening, EU Chamber Warns
- Wal-Mart Price Pressure Hurts China Workers: Report
- Fannie Mae to Tighten Lending Standards: Report
- Great Britain, No Longer That Great: Investor
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Euro Shares Record Biggest Drop in 7 Months
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- US Companies Already Moving on Curbing Emissions
- Fannie Mae to Tighten Lending Standards: Report
- Investing in Good Karma – and Making a Profit
- Retailers Should Believe in Christmas Miracles
- Wal-Mart Price Pressure Hurts China Workers: Report
- Bankruptcies Jump, Hitting Highest Level in Four Years
- Steepest Black Friday Discounts, Revealed
- Where Do Pardoned Turkeys Go?
Warren Buffett Watch
Text Size 
 |
Warren Buffett called into CNBC's Squawk Box this morning (Monday) to discuss Berkshire Hathaway's financing role in a $23 billion dollar deal that has candy-maker Mars buying gum-maker Wm. Wrigley Jr. Co.
That's $80 a share for Wrigley. Current price: [WWY
Loading...
()
]
Wrigley will become a subsidiary of Mars. Berkshire gets a minority equity stake in the new Wrigley subsidiary.
WARREN BUFFETT FINANCES MARS-WRIGLEY DEAL: THE COMPLETE CNBC INTERVIEW (VIDEO AND TRANSCRIPT)
It's a classic brand-play for Buffett. In a live telephone conversation this morning, Buffett tells the Squawk Box team. "There's really nothing that can go wrong with something like the Wrigley or the Mars Brands."
Buffett says executives at Mars asked him to get involved in the deal, although he notes that acting as a "finance provider" for a deal is not a common Berkshire role.
 |
Charles Rex Arbogast / AP Some of the Wm. Wrigley Jr. Co.'s 14 brands, including top selling U.S. gum brands Extra, Orbit and Eclipse, are seen at the opening of the Chicago-based chewing gum maker's new research facility in a file photo from Sept. 13, 2005, in Chicago. |
And in keeping with his usual hands-off stance when it comes to actually running the companies Berkshire buys, Buffett tells us that "getting operationally involved is not in the cards."
Buffett also touched on the economy during his Squawk conversation, repeating his belief that the U.S. economy is now in a recession, and that the downturn will be longer and deeper than most people think. He's also predicting a "fairly long and fairly deep" housing downturn.
Current Berkshire price: [US;BRK.A
Loading...
()
]
See Warren Buffett Watch on CNBC's The Call, most weekday mornings at 11:50a ET
Questions? Comments? Email me at
Data is a real-time snapshot *Data is delayed at least 15 minutes