Mars, Buffet, cooperate in bid for Wrigley
Güncelleme Tarihi:
Mars and Warren Buffett's Berkshire Hathaway, were close to a deal to acquire the Wm. Wrigley Jr. Company for more than $22 billion, a deal that could transform the confectionary industry, people familiar with the agreement told newspapers.
The deal could be announced as early as Monday, these people told The New York Times and The Wall Street Journal, both of which posted stories on their Web sites early Monday.
The Times' sources cautioned that the deal could still fall apart. Neither newspaper identified the people providing the information.
The merger of Mars, maker of M&Ms, Snickers bars and other candy, and Wrigley, which produces such gums as Extra, Eclipse, and Orbit, could force other snack companies to merge to compete with the new confectionary giant.
Buffett, already a candy owner in Sees Candies, is helping finance the transaction for Mars, the newspapers said. Representatives of the companies and Berkshire Hathaway declined to comment.
The sale price would represent a sizable premium above Wrigleys stock market value, which was about $17.3 billion Friday.