Saturday, September 26, 2009

Kraft CEO Heeds Warren Buffett's 'Animal Spirits' Warning on CNBC

Kraft CEO Irene Rosenfeld has promised employees she won't let "animal spirits" take over as the company pursues its proposed acquisition of Cadbury.

That's the phrase Warren Buffett used in a CNBC interview last week as he said Kraft's $16.4 billion stock offer is a "full price." That's seen as a signal Buffett does not want Kraft to raise its offer, despite Cadbury's rejection of the bid as too low.

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