Food giant Mars has agreed a deal to buy US firm Wrigley's in a deal worth about £11.5bn.
The takeover proposal, in which Mars is offering Wrigley's investors about £40 a share, is one of the largest in recent years and will result in combined global sales of more than £13.5m.
It brings together some of the world's best-known confectionery brands including Orbit, Extra, M&Ms, Snickers and Mars plus a number of leading food, drink and pet care brands.
As part of the deal, Berkshire Hathaway will purchase a minority stake in Wrigley's worth just over £1bn.
In the US, Wrigley's will become a separate, standalone subsidiary of Mars, with Mars' non-chocolate sugar brands added to Wrigley's portfolio.
No plans have yet been announced for the UK divisions of the two companies.
The takeover proposal, in which Mars is offering Wrigley's investors about £40 a share, is one of the largest in recent years and will result in combined global sales of more than £13.5m.
It brings together some of the world's best-known confectionery brands including Orbit, Extra, M&Ms, Snickers and Mars plus a number of leading food, drink and pet care brands.
As part of the deal, Berkshire Hathaway will purchase a minority stake in Wrigley's worth just over £1bn.
In the US, Wrigley's will become a separate, standalone subsidiary of Mars, with Mars' non-chocolate sugar brands added to Wrigley's portfolio.
No plans have yet been announced for the UK divisions of the two companies.
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