Monday, April 28, 2008
Mars, privately owned by the Mars family (M&M's, Mars, Snickers) reportedly has struck a deal to acquire the Wm. Wrigley Jr. Co. (chewing gum, Lifesavers, Altoids) for approximately $22 billion. Warren Buffett's Berkshire Hathaway will provide Mars with financing. Wrigley's market value on Friday was $17.3 billion. Mars is the world's largest maker of chocolate by sales. NYTimes, Candy Maker Reported Near Deal for Chewing Gum Giant; WSJ, Mars, Buffett Team Up in Wrigley Bid.