The Wall Street Journal, which previously reported in July that Kraft Heinz (KHC) was planning to spin off a large chunk of its grocery business into a new entity, now reports, citing sources, that the company is closing in on a plan to break itself up and that a transaction could be finalized and announced as soon as early next week. The decision would effectively undo much of the work done from the merger of Kraft and Heinz in 2015 that was orchestrated by Berkshire’s (BRK.A) Warren Buffett and private-equity firm 3G Capital Partners, the report noted.
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