The Wm. Wrigley Jr. Company announced that it had reached an agreement to merge with Mars, Incorporated, one of the world’s leading confectionery and consumer goods companies. As a result of this transaction, Wrigley will become a private company and part of one of the world’s premier family-owned companies. The combined organization will have a product portfolio containing some of the world’s most recognizable and well-loved confectionery brands — including Orbit, Extra, Doublemint, M&M’s, Snickers and Mars — as well as leading food, beverage and pet care brands, totaling over $27 billion in global sales. Mars, Incorporated, will acquire 100% of Wrigley’s outstanding shares and all of its outstanding options will be cashed out. The Wrigley Company will operate as a separate, stand-alone subsidiary, keeping its headquarters in Chicago and continuing its civic and philanthropic involvement, both locally and in its communities around the world. Additionally, Bill Wrigley, Jr. will continue serving as the Company’s Executive Chairman. The proposed transaction is subject to customary closing conditions, including stockholder approval and certain governmental regulatory clearances. Both parties are committed to working to close the transaction as soon as possible, with the merger expected to be completed within six to twelve months.(MSN Money Central), NO WORD how or if this merger will effect M&M’s sponsorship of the #18 Toyota of Kyle Busch and the #42 Dodge of Juan Pablo Montoya.(4-29-2008)
