Wrigley Company Sold to Mars

CHICAGO (AP) -- Wm. Wrigley Jr. shareholders have approved the chewing-gum maker's sale to candy maker Mars -- creating the world's largest confection maker.

The voting results were announced Thursday at a shareholders meeting in Chicago.

Two-thirds of shareholders had to approve the $23 billion deal for it to go through.

The sale to privately-held Snickers and M&M maker Mars bumps Britain's Cadbury from the largest candy company spot.

Bill Wrigley Jr. is executive chairman and the fourth-generation family member to lead the business. He told shareholders the company respected its past as a family-run business but had to look forward.

He said the company will be able to grow in new ways under Mars' ownership.

Wrigley shares rose $79.71 in morning trading.


Copyright AP - Associated Press
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