Buffett says willing to partner with 3G again on 'very large' deals
(Reuters) - Warren Buffett on Saturday said Berkshire Hathaway Inc (BRKa.N) (BRKb.N) would team up again with 3G Capital on more transactions, perhaps very large ones, despite criticism of the Brazilian firm's slashing of too many jobs at HJ Heinz & Co.
"I think 3G does a magnificent job of running businesses," Buffett said at Berkshire's annual meeting. "We're very likely to partner with them, perhaps on some things that are very large."
Berkshire contributed $12 billion toward the more than $23 billion purchase of Heinz, but gave 3G day-to-day control of operations. Some critics have said 3G's cuts do not reflect Berkshire's typical values toward people who work at companies it acquires.
"We have not enforced, or attempted to enforce, nor do we wish to enforce, a strong discipline in every subsidiary as to whether they have a few too many people or not," Buffett said. "A great many don't."
(Reporting By Jennifer Ablan; Editing by Bernard Orr)
- Tweet this
- Share this
- Digg this
Netflix said it is jointly producing the sequel to the Oscar-winning film "Crouching Tiger, Hidden Dragon" with Weinstein, marking its entry into feature film production. "Crouching Tiger, Hidden Dragon: The Green Legend" will release exclusively on the online video service and in select global IMAX theaters next August, Netflix said. Full Article