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Shares of Kraft Heinz sank in after-hours trading Tuesday after the food giant disclosed that Berkshire Hathaway, its largest shareholder, may sell nearly its entire stake.
In a filing late Tuesday with the Securities and Exchange Commission, Kraft Heinz said Berkshire — the company founded by Warren Buffett — could sell up to 325,442,152 of its shares. Berkshire holds 325,634,820 shares — or roughly 27% of the company — according to FactSet.
