Confectioners Industry
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The Confectioners Industry's Wrigley (WWY) was InvestorGuide.com's Stock of the Day on 4/28/2008.
Wrigley and Mars - Too Much Sugar?
As far as mergers and buyouts go, this is a pretty big one. In what will go down as the largest deal in the food industry, two iconic US candy brands are joining forces. The news broke late last night and was confirmed early this morning. Privately-held Mars Inc. is buying Wm. Wrigley Jr., which makes the Wrigley chewing gum that you might have heard of, among other things, for $23 billion or $80 a share. That is a massive premium of 28% to Wrigley's stock price as of last week. So while it's still hard for private equity firms to raise money for deals, strategic buyers are clearly having an easier time raising cash. Goldman Sachs (GS: Charts, News, Offers) and Berkshire Hathaway (BRK.B: Charts, News, Offers) are among the entities backing this deal. What does this deal for Wrigley and Mars means and are more such alliances around the corner?Read more
Click here to see the complete Stock of the Day archives!
Wrigley and Mars - Too Much Sugar?
As far as mergers and buyouts go, this is a pretty big one. In what will go down as the largest deal in the food industry, two iconic US candy brands are joining forces. The news broke late last night and was confirmed early this morning. Privately-held Mars Inc. is buying Wm. Wrigley Jr., which makes the Wrigley chewing gum that you might have heard of, among other things, for $23 billion or $80 a share. That is a massive premium of 28% to Wrigley's stock price as of last week. So while it's still hard for private equity firms to raise money for deals, strategic buyers are clearly having an easier time raising cash. Goldman Sachs (GS: Charts, News, Offers) and Berkshire Hathaway (BRK.B: Charts, News, Offers) are among the entities backing this deal. What does this deal for Wrigley and Mars means and are more such alliances around the corner?Read more
Click here to see the complete Stock of the Day archives!
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