Coca-Cola Co Holder Wintergreen confirms urges Coca-Cola to Address Conflicts Amid Buyout Speculation
- Citing its concern about possible conflicts of interest at The Coca-Cola Company amid media speculation that 3G Capital and Berkshire Hathaway may be planning a transaction to take Coca-Cola private, Wintergreen Advisers today released the following letter. It is addressed to the independent directors who chair Coca-Colas Audit, Compensation, and Governance Committees and urges them to address these conflicts and take steps to exercise their fiduciary duty with regard for all shareholders.
- Wintergreens specific and most recent concern stems from speculation in the U.S. and Brazilian media that Berkshire Hathaway, your largest shareholder, and 3G Capital, a private equity firm, may be planning a transaction to take Coca-Cola private.1 Media reports express the view that Berkshire's and 3G's recent joint acquisition of Heinz may serve as the blueprint for such a transaction. Additionally, Warren Buffett has stated that the Heinz deal created a partnership template that may be used by Berkshire in future acquisitions of size2 and stated at Berkshires 2014 shareholders meeting that "we havent bought Coca-Cola, yet.
{KO US Equity GIP}