The next question yields the news that Berkshire and private-equity firm 3G were each going to pitch in $15 billion to help Kraft Heinz acquire Unilver. Each company owns about a quarter of Kraft Heinz. Berkshire's participation was contingent on the deal being a friendly offer, Mr. Buffett says.

That deal fell through shortly after news of the proposal became public in February when Unilever rebuffed the approach.

Click here to see the full live coverage of Warren Buffett at Berkshire Hathaway's annual meeting:

http://www.wsj.com/livecoverage/berkshire-hathaway-2017-annual-meeting-analysis

Write to Erik Holm at erik.holm@wsj.com

(END) Dow Jones Newswires

May 06, 2017 12:30 ET (16:30 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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