Buffett’s Kraft Heinz Bet Takes Spotlight in Berkshire Earnings

Berkshire's BNSF May Be Feeling Merger Pressure

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By Alexandre Rajbhandari

August 1, 2025 at 11:54 AM EDT

Two of Warren Buffett’s biggest bets are in the spotlight.

Dealmaking speculation around BNSF and Kraft Heinz Co. has been heating up in recent weeks. The maker of Kraft mac and cheese and Heinz ketchup is considering a breakup. And BNSF, Berkshire Hathaway Inc.’s railroad that it has owned since 2010, is in the middle of an industry that’s facing intensifying consolidation, prompting analysts to speculate that BNSF could be contemplating its own deal.