Mars, Incorporated announced overnight that it has successfully completed its acquisition of the Wm. Wrigley Jr. Company, following approval of the transaction by Wrigley stockholders on September 25, 2008 and receipt of all necessary regulatory approvals. Upon completion of the US$23b acquisition, the Wrigley Company becomes a subsidiary of family-owned Mars, Incorporated and will retain its current headquarters in Chicago, Ilinois. Wrigley will operate as a separate business segment, alongside... ...Read more »
Wm. Wrigley Jr. Company (NYSE: WWY) announced overnight that its shareholders have overwhelmingly approved the adoption of the merger agreement with Mars, Incorporated.The combination of two of the globe’s most famous companies, will create a $27 billion food company and the world’s largest confectionery company. “We are pleased with the outcome of today’s vote,” said Bill Wrigley, Jr., Executive Chairman and Chairman of the Board. “On behalf of the Company’s... ...Read more »
The European Commission has cleared, under the EU Merger Regulation, the proposed acquisition of sole control of Wrigley by Mars. The EU concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. In April this year Wrigley, the world leading gum maker, agreed to the takeover by Mars Inc., with Wrigley to become a subsidiary of Mars. Mars, a US-based family-owned company is a global leader in confectionery,... ...Read more »
Cadbury, the world’s largest confectionery company, has announced plans to sell chocolate flavoured chewing gum. The product, described by Cadbury as “indulgence without the guilt”, is set to hit UK shelves next month as the company seeks to eat into the market share of Wrigley. Known as Trident Sweet Kicks, the gum has a mint shell with a liquid chocolate centre, which reportedly provides an initial chocolate taste before providing a longer lasting mint flavour. The product... ...Read more »
Mars, Incorporated (”Mars”) have announced a merger agreement with Chicago-based Wm. Wrigley Jr. Company (NYSE: WWY) (”Wrigley”) in a transaction valued at approximately $23 billion (A$24.7 billion). Under the terms of the agreement, Wrigley will become a separate, stand-alone subsidiary of Mars. With $5.4 billion in sales, Wrigley is a world leader in gum and confections. Under the terms of the agreement, unanimously approved by the Boards of Directors of both companies,... ...Read more »