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Mondelez Int’l (MDLZ) Stock Closes Up as Acquisition Speculation Denied

NEW YORK (TheStreet) -- Mondelez International (MDLZ - Get Report) stock closed up by 0.65% to $46.41 on Monday, after Warren Buffett denied any possible acquisition by the newly-formed Kraft Heinz (KHC), The Wall Street Journal reports.

"At Kraft Heinz, we have our work cut out for us for a couple of years," Buffet said on CNBC this morning.

"Frankly, most of the food companies sell at prices that it would be very hard for us to make a deal even if we had done all the work needed at Kraft Heinz," he added.

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The Berkshire Hathaway (BRK.A) (BRK.B) CEO rejected the possibility of the acquiring the food company because the Kraft Foods and H.J. Heinz $50 billion merger was completed just last month, The Journal noted.

Berkshire Hathaway acquired H.J. Heinz with 3G Capital in 2013, while Mondelez split from Kraft Foods in 2012.

Separately, TheStreet Ratings team rates MONDELEZ INTERNATIONAL INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation: