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Mars-Wrigley deal hailed as a 'win-win'
Published: 11 June, 2008
Page 4
Wrigley will become a subsidiary of Mars following a $23bn deal that is being described as a merger rather than a purchase.
The world leader in gum sales is a considerable scalp for Mars, especially as it has had a 17% increase in quarterly earnings per share, despite the entry of Trident into the market.
Mars said in a statement: "The combination will allow Wrigley to retain its character and focus as a stand-alone business."
Mars will be transferring its non-chocolate confectionery brands, including Starburst and Skittles, to Wrigley.
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