Warren Buffett says 'answer is no' on Kraft Heinz buying Mondelez

Buffett's remarks sent Mondelez down as much as 3.6% to $40.39 as biggest intraday decline since Feb

Warren Buffett, the billionaire chairman and chief executive officer of Berkshire Hathaway, sent shares of Mondelez International tumbling on Wednesday after tamping down speculation that Kraft Heinz will acquire the snack giant. When asked whether Kraft Heinz might buy a company like Mondelez, he told CNBC, “I think the answer is no on that.” Berkshire is the largest shareholder in Kraft Heinz and controls the company along with private equity firm 3G Capital.

After Kraft Heinz’s rebuffed attempt to acquire Unilever earlier this year, investors have been pondering whether the company will go after another big consumer-products maker. Mondelez, the maker