Kraft takes low P/E into its own hands

01/9/2010 | CNNMoney/Fortune

Kraft Foods used an odd calculation of its P/E ratio to increase the stated value of the company's shares. The rosier calculation was used in a proxy filing to shareholders who will vote on plans to issue new shares to buy Cadbury. Warren Buffett's Berkshire Hathaway, one of Kraft's largest shareholders, argued against issuing new shares because they are undervalued.

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