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Oct 6, 2008 3:14 pm US/Central

Mars, Wrigley Close $23 Billion Deal, Create Giant

HARRISBURG, Pa. (AP) ― Mars has closed a deal to purchase Chicago-based Wrigley to become the world's largest candy maker.

Mars is the privately held maker of M&Ms, Snickers and Skittles. It paid $23 billion for Wrigley, which was founded in 1891.

At the end of Monday, Wrigley's stock will cease trading publicly. The gum-maker's shareholders will receive $80 for each share.

The merger will combine companies that have worldwide footprints and are powerhouses in separate parts of the confectionery sector, Wrigley in gum and Mars in candy.

The deal, announced in April, includes financing from famed investor Warren Buffett.

(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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