Why Warren Buffett believes Cadbury's sale is a lousy deal for Kraft shareholders

Warren Buffett told the business TV channel CNBC on Thursday that the 850p a share Kraft agreed to pay for Cadbury is a ‘bad deal’ and, given a chance, he would vote against it.

From the perspective of a Cadbury shareholder, this dismissal from the American investment genius – and Kraft’s biggest single shareholder – may seem astonishing.