Tough times are ushering in a new type of conglomerate: a skinny one. TheRealLSL
General Electric on Feb. 25 said it had agreed to sell its BioPharma business to Danaher for a total consideration of $21.4 billion.
Berkshire Hathaway’s Warren Buffett released his annual investor letter on Feb. 23. In it he highlighted he had $112 billion in U.S. Treasury bills and other cash equivalents, saying: “We consider a portion of that stash to be untouchable, having pledged to always hold at least $20 billion in cash equivalents to guard against external calamities.”
Two days earlier, food giant Kraft Heinz said that it was taking a $15 billion non-cash impairment charge to write down goodwill and other intangible assets including the Kraft and Oscar Mayer trademarks.
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