Shareholders apparently overwhelmingly approved the Wrigley - Mars merger, promising to create one, massive ball of chewing gum mixed with chocolate and nougat goodness. It's either a great thing, or akin to that time in sixth grade when you ate a candy bar without spitting out your gum cause it was your last piece. (C'mon, you know what I'm talking about, admit it).
Under the terms of the agreement -- announced back on April 28, 2008 -- Wrigley stockholders will receive $80.00 cash for each share of stock. Wrigley will become a subsidiary of privately held Mars, Incorporated, adding a number of brands to its portfolio - including Starburst(R) and Skittles(R), and remaining headquartered in Chicago. The combined strengths of Mars and Wrigley will create a dynamic $27-billion food company and the world's leading confectioner.
More after the jump.
Asked about the merger, and Warren Buffett's involvement (he was right in the middle of the funding to the tune of $6.5 billion), a Wrigley representative directed me to a site which contained this:
Q. Is it OK for my dog to chew/eat sugarfree gum?
A. Some of our chewing gums contain xylitol, which is a safe, even beneficial, additive which has been used in food, confectionery and other products - like toothpaste - as a sweetener and flavor enhancer for over 30 years and has been widely approved by regulatory authorities all over the world.
Although chewing gum products are not intended for use by dogs, cats or other pets, the American Veterinary Medical Association (AVMA) has reported that xylitol may be toxic for dogs.
In fact, in addition to food products containing xylitol, the AVMA recommends that many foods that are perfectly safe for humans be kept away from pets because of potential harm - including coffee grounds, grapes/raisins, chocolate, onions, yeast, dough, tea, macadamia nuts, alcohol, fatty foods, salt, avocadoes and garlic. For more information, please go to avma.org.
Maybe it was the way I asked about how this transaction tied into Buffett's proclivity for business-sex analogies?
Wrigley Company Stockholders Approve Merger With Mars [Wrigley.com]
Also:Cautionary Note To Dog Owners