Wrigley shareholders approve merger with Mars
September 25, 2008
by FoodBusinessNews.net Staff
CHICAGO — The Wm. Wrigley Jr. Co. announced stockholders have approved the proposed merger with Mars, Inc.
"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 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."
Both companies intend to complete the merger on Oct. 6. Under the terms of the agreement, Wrigley stockholders will receive $80 cash for each share of stock, and Wrigley will become a subsidiary of Mars. The companies combined will create a larger $27 billion food company.