Posted AT 3:17 PM EST on 28/04/08
Mars, Buffett make bid for Wrigley
CHICAGO — The Oracle of Omaha is betting that the country's candy jar is recession-proof.
With financing from Warren Buffett, candy maker Mars Inc. on Monday said it is buying confectioner Wm. Wrigley Jr. Co. for an estimated $23-billion (U.S.) in cash. The deal would marry brands that sweet-toothed Americans have munched on for decades: Mars owns Snickers and M&Ms. Wrigley's gum brands include Juicy Fruit, Orbit, Extra and Big Red.
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