Mars, Buffett to buy Wrigley for $23 billion


	Mars, Buffett to buy Wrigley for $23 billion
dewitte
4-28-2008 12:01 PM
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business, mars, wrigley, buffett
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/4e965a1f-c50e-43b9-8add-47a1fb3f7178/A7842D4C-E5CE-4153-A446-C0BFB74669BA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.marketwatch.com/news/story/mars-buy-wrigley-23-bln/story.aspx?guid=%7B20EDBD12-D8F3-44A6-A3F2-DFA993A3A20C%7D&dist=msr_3" href="http://www.marketwatch.com/news/story/mars-buy-wrigley-23-bln/story.aspx?guid=%7B20EDBD12-D8F3-44A6-A3F2-DFA993A3A20C%7D&dist=msr_3" style="font-size: 11px;">www.marketwatch.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/news/story/mars-buy-wrigley-23-bln/story.aspx?guid=%7B20EDBD12-D8F3-44A6-A3F2-DFA993A3A20C%7D&dist=msr_3"><B>NEW YORK (MarketWatch) -- Mars Inc., backed by billionaire investor Warren Buffett's Berkshire Hathaway Inc., reached an agreement Monday to buy 117-year-old chewing-gum pioneer Wm. Wrigley Jr. Co. for about $23 billion.</B></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/news/story/mars-buy-wrigley-23-bln/story.aspx?guid=%7B20EDBD12-D8F3-44A6-A3F2-DFA993A3A20C%7D&dist=msr_3"><DIV class="p">
            Mars, of McLean, Va., will pay $80 in cash for each share of Wrigley share, a 28% premium over Wrigley's Friday closing price of $62.45, closely held Mars said in a statement Monday. 
        </DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/news/story/mars-buy-wrigley-23-bln/story.aspx?guid=%7B20EDBD12-D8F3-44A6-A3F2-DFA993A3A20C%7D&dist=msr_3">
            Chicago-based Wrigley <SPAN class="LqQtGroup"><SPAN class="quotedToolTip"> (<A href="http://www.marketwatch.com/quotes//wwy" class="lk001">WWY</A>:<SPAN class="quotedToolTipBox"><DIV class="t27 companyName"><SPAN class="companyName"><SPAN mwsymbol="WWY" mwfield="Name" class="mwlivequotes unchanged delayed">Wm. Wrigley Jr. Company</SPAN></SPAN></DIV><DIV><A href="http://www.marketwatch.com/tools/quotes/news.asp?symb=WWY">News</A>,
          <A href="http://www.marketwatch.com/tools/quotes/intchart.asp?symb=WWY">chart</A>,
          <A href="http://www.marketwatch.com/tools/quotes/profile.asp?symb=WWY">profile</A>,
          <A href="http://www.marketwatch.com/quotes//wwy">more</A></DIV><DIV class="quoteData"><SPAN class="marketicon"><SPAN mwsymbol="WWY" mwformat="None" mwfield="Flags" class="mwlivequotes unchanged delayed"> </SPAN></SPAN><SPAN class="lastLabel">Last: </SPAN><SPAN class="price"><SPAN mwsymbol="WWY" mwformat=",2" mwfield="Price" class="mwlivequotes up delayed">76.85</SPAN></SPAN><SPAN><SPAN mwsymbol="WWY" mwformat="+2" mwfield="Change" class="mwlivequotes up delayed">+14.40</SPAN></SPAN><SPAN><SPAN mwsymbol="WWY" mwformat="+2%" mwfield="PercentChange" class="mwlivequotes up delayed">+23.06%</SPAN></SPAN><BR /><SPAN class="liveQuotesDate"><SPAN mwsymbol="WWY" mwformat="h:nna/pm mm/dd/yyyy" mwfield="Timestamp" class="mwlivequotes up delayed">11:41am 04/28/2008</SPAN></SPAN><IMG border="0" chartaddress="" src="http://www.marketwatch.com/charts/big.chart?style=1032&size=1&type=256&uf=8192&time=1dy&freq=1mi&symb=WWY" class="quoteTipChart" /><BR /><SPAN>Delayed quote data</SPAN><DIV><IMG src="http://i.mktw.net/images/bullet_black_5x5.gif" class="bullet" /><A href="                  javascript:addToPortfolio('http://www.marketwatch.com/portfolio/add.asp?symbs=WWY&dist=mktwstoryaddportfolio', 'mktw')">Add to portfolio</A><BR /><IMG src="http://i.mktw.net/images/bullet_black_5x5.gif" class="bullet" /><A href="http://www.marketwatch.com/tools/quotes/snapshot.asp?symb=WWY&dist=mktwstoryanalyst
                ">Analyst
              </A><BR /><IMG src="http://i.mktw.net/images/bullet_black_5x5.gif" class="bullet" /><A href="http://www.marketwatch.com/tools/alerts/createalert.asp?selectedType=0&alertsymbol=WWY&dist=mktwstoryalert">Create alert</A></DIV><DIV><IMG src="http://i.mktw.net/images/bullet_black_5x5.gif" class="bullet" /><A href="http://www.marketwatch.com/tools/quotes/insiders.asp?symb=WWY&dist=mktwstoryinsider">Insider</A><BR /><IMG src="http://i.mktw.net/images/bullet_black_5x5.gif" class="bullet" /><A href="http://www.marketwatch.com/discussions/msgIndex.asp?symb=WWY&dist=mktwstorydiscuss">Discuss</A><BR /><IMG src="http://i.mktw.net/images/bullet_black_5x5.gif" class="bullet" /><A href="http://www.marketwatch.com/tools/quotes/financials.asp?symb=WWY&dist=mktwstoryfinancials
                ">Financials
              </A></DIV></DIV><DIV><SPAN class="lb07">Sponsored by:</SPAN><BR /><DIV class="qtPieSponsordone"></DIV></DIV><IMG width="1" height="1" border="0" class="pixelTracking" /></SPAN><SPAN class="qted symbol"><A href="http://www.marketwatch.com/tools/quotes/quotes.asp?symb=WWY">WWY</A></SPAN></SPAN><SPAN class="marketicon"><SPAN mwsymbol="WWY" mwformat="None" mwfield="Flags" class="mwlivequotes unchanged delayed"> </SPAN></SPAN><SPAN class="price"><SPAN mwsymbol="WWY" mwformat=",2" mwfield="Price" class="mwlivequotes up delayed">76.85</SPAN></SPAN>,
      <SPAN mwsymbol="WWY" mwformat="+2" mwfield="Change" class="mwlivequotes up delayed">+14.40</SPAN>,
      <SPAN mwsymbol="WWY" mwformat="+1%" mwfield="PercentChange" class="mwlivequotes up delayed">+23.1%</SPAN>)
    </SPAN>, with annual sales of $5.4 billion, is known for its namesake Spearmint and Juicy Fruit gums as well as Life Savers.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/news/story/mars-buy-wrigley-23-bln/story.aspx?guid=%7B20EDBD12-D8F3-44A6-A3F2-DFA993A3A20C%7D&dist=msr_3"><DIV class="p">
            In a statement, Buffett said he has been "a big fan of Wrigley's business model for many years." His investment company has long owned San Fracisco-based See's Candies.
        </DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A7842D4C-E5CE-4153-A446-C0BFB74669BA/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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