Buffett buys big stake in Kraft

Billionaire investor adds the food company and drugmaker GlaxoSmithKline to his portfolio.

Subscribe to Companies
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

Buffett bail-out
Billionaire investor Warren Buffett offers to prop up troubled bond insurers with $800B in reinsurance.

NEW YORK (CNNMoney.com) -- Warren Buffett's investment group, Berkshire Hathaway, bought more than 132 million shares of food company Kraft, according to a document filed with the Securities and Exchange Commission Thursday.

Billionaire Buffett, whose nickname is the "Oracle of Omaha," is one of the world's most well-known investors.

Thursday's required fourth-quarter report of Berkshire's holdings also lists the addition of 1.5 million shares of European drugmaker GlaxoSmithKline.

Speculation circulated in the middle of last year that Berkshire Hathaway (BRK.A) would buy a stake in Kraft.

Shares of Kraft Foods (KFT) grew 0.77 cents, or 2.63%, to $30.08 in after-hours trading. U.S.-traded shares of GlaxoSmithKline (GSK) rose 0.85 cents, or 1.96% to $44.17.

Earlier this week, Buffett shocked the markets by offering to reinsure about $800 billion of tax-exempt or municipal bond obligations of bond insurers MBIA (MBI), Ambac (ABK) and FGIC. To top of page

Photo Galleries
Cars that sold for millions at the Scottsdale auctions These were the highest prices paid for collectible cars -- and a bus -- at the Scottsdale auto auctions. More
The best of SkyMall This catalog is always packed with ridiculous items that we just can't live without. More
Blue collar entrepreneurs These five entrepreneurs took their blue collar experience and used it to launch innovative businesses. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.