No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Kraft Heinz slumped in pre-market trade on Wednesday after the company said that its biggest shareholder, Berkshire Hathaway, might sell just over 325.4m shares.
The disclosure was made in a regulatory filing late on Tuesday.
At 1155 GMT, the shares were down 4.7% at $22.65.
Last September, Kraft Heinz announced plans to split into two companies, one focused on groceries and the other on sauces and spreads.
It said at the time that the separation was designed to maximise the company's capabilities and brands while reducing complexity, "allowing both new companies to more effectively deploy resources toward their distinct strategic priorities".
"This focus will enable stronger performance while preserving the scale to compete and win in today's environment."
The spinoff is expected to complete in the second half of this year.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.