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Business Briefing / CONFECTIONS

Wrigley sale to Mars is approved

September 26, 2008|From Times Wire Services

Shareholders of chewing gum maker Wm. Wrigley Jr. Co. have approved the company's sale to candy maker Mars Inc., creating the world's largest confection maker.

Holders of two-thirds of Wrigley's roughly 272.7 million outstanding common shares had to approve the $23-billion deal for it to go through. The voting results were announced at a shareholder meeting in Wrigley's hometown of Chicago.

The sale to Mars bumps Britain's Cadbury from the position of world's largest candy company.

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