Wm. Wrigley Jr. Co. confirmed its merger with Mars Inc., thanks to approval from its stockholders. As a result, the merger was scheduled to be finalized Monday, October 6, 2008.
“We are pleased with the outcome of today’s vote [September 25, 2008],” said Bill Wrigley, Jr., executive chairman and chairman of the board. “On behalf of the company’s board of directors, we deeply appreciate the support of our stockholders and Wrigley associates around the world throughout this process. The Wrigley team is looking forward to completing the transaction and beginning the next, exciting chapter for the company and its brands.”
Under the terms of the agreement, Wrigley stockholders will receive $80 in cash for each share of stock they held. Wrigley, which will remain headquartered in Chicago, will become a subsidiary of privately held Mars Inc., adding brands such asStarburst andSkittles to its product portfolio. The merger created the world’s leading confectionery company valued at $27 billion.