Mars, Wrigley close $23 billion deal, create giant
Mars Inc has closed a deal to purchase chewing-gum company Wm Wrigley Jr Co to become the world's largest candy maker.
By Agencies |
HARRISBURG, PENNSYLVANIA: Mars Inc has closed a deal to purchase chewing-gum company Wm Wrigley Jr Co to become the world's largest candy maker.
Mars, the privately held maker of M&Ms, Snickers and Skittles, paid $23 billion for Wrigley, a household name in its hometown of Chicago, where it started in 1891.
At the end of Monday, Wrigley's stock will cease trading publicly. Wrigley shareholders will receive $80 for each share after they approved the deal last month.
The merger will combine companies that have worldwide footprints and are powerhouses in separate parts of the confectionery sector, Wrigley in gum and Mars in chocolate candy.
The deal, announced in April, includes financing from famed investor Warren Buffett.
Mars, the privately held maker of M&Ms, Snickers and Skittles, paid $23 billion for Wrigley, a household name in its hometown of Chicago, where it started in 1891.
At the end of Monday, Wrigley's stock will cease trading publicly. Wrigley shareholders will receive $80 for each share after they approved the deal last month.
The merger will combine companies that have worldwide footprints and are powerhouses in separate parts of the confectionery sector, Wrigley in gum and Mars in chocolate candy.
The deal, announced in April, includes financing from famed investor Warren Buffett.
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