CHICAGO, Sept. 25 /PRNewswire-FirstCall/ -- Wm. Wrigley Jr. Company
(NYSE: WWY) announced today that its stockholders overwhelmingly approved the
adoption of the merger agreement with Mars, Incorporated.
Following the successful vote, both parties intend to complete the merger
on Monday, October 6, 2008.
"We are pleased with the outcome of today's vote," said Bill Wrigley, Jr.,
Executive Chairman and Chairman of the Board. "On behalf of the Company's
Board of Directors, we deeply appreciate the support of our stockholders and
Wrigley associates around the world throughout this process. The Wrigley team
is looking forward to completing the transaction and beginning the next,
exciting chapter for the Company and its brands."
Under the terms of the agreement -- announced back on April 28, 2008
-- Wrigley stockholders will receive $80.00 cash for each share of stock.
Wrigley will become a subsidiary of privately held Mars, Incorporated, adding
a number of brands to its portfolio - including Starburst(R) and Skittles(R),
and remaining headquartered in Chicago. The combined strengths of Mars and
Wrigley will create a dynamic $27-billion food company and the world's leading
confectioner.
About Wrigley
The Wm. Wrigley Jr. Company is a recognized leader in confections with a
wide range of product offerings including gum, mints, hard and chewy candies,
lollipops, and chocolate. The Company has global sales of $5.4 billion and
distributes its world-famous brands in more than 180 countries. Three of
these brands - Wrigley's Spearmint(R), Juicy Fruit(R), and Altoids(R) - have
heritages stretching back more than a century. Other well-loved brands
include Doublemint(R), Life Savers(R), Big Red(R), Boomer(R), Pim Pom(R),
Winterfresh(R), Extra(R), Freedent(R), Hubba Bubba(R), Orbit(R), Excel(R),
Creme Savers(R), Eclipse(R), Airwaves(R), Solano(R), Sugus(R), P.K.(R), Cool
Air(R) and 5(TM).
About Mars
Mars, Incorporated is a family owned company that produces some of the
world's leading confectionery, food and petcare products and has growing
beverage and health & nutrition businesses. Headquartered in McLean,
Virginia, Mars, Incorporated operates in more than 66 countries and employs
more than 48,000 associates worldwide. The company's global sales are $22
billion annually. Founded in 1911, the company manufactures and markets a
variety of products under many of the world's most recognizable trademarks,
including DOVE(R), MILKY WAY(R), M&M'S(R), SNICKERS(R), MARS(R), UNCLE
BEN'S(R) rice, ROYAL CANIN(R) and PEDIGREE(R) and WHISKAS(R) pet care
products.
Cautionary Statement Regarding Forward-Looking Information
This press release contains statements which may be considered forward-
looking statements within the meaning of the Securities Exchange Act of 1934,
including, without limitation, statements regarding operating strategies,
future plans and financial results. Forward-looking statements may be
accompanied by words such as "anticipate", "believe", "could", "estimate",
"expect", "forecast", "intend", "may", "possible", "predict", "project" or
similar words, phrases or expressions. The Company does not undertake any
obligation to update the information contained herein, which speaks only as of
the date of this press release. A variety of factors could cause actual
results to differ materially from the anticipated results or expectations
expressed including, without limitation, the occurrence of any event, change
or circumstance that could give rise to the termination of the merger
agreement and the possibility that the Company would be required to pay any
termination fee in connection therewith; the outcome of any legal proceedings
that may be instituted against the Company and others following the
announcement of the merger agreement; risks that the required regulatory
approvals will not be obtained in a timely manner, if at all; inability to
complete the merger due to the failure to satisfy the other conditions to the
completion of the merger; risks that the proposed transaction disrupts current
plans and operations; the availability or retention of retail space; the
availability of raw materials; changes in demographics and consumer
preferences; changes in foreign currency and market conditions; increased
competition and discounting and other competitive actions; underutilization of
or inadequate manufacturing capacity and labor stoppages; governmental
regulations; and the outcome of integrating acquired businesses. These
factors, and other important factors that could affect these outcomes are set
forth in the Company's most recently filed Annual Report on Form 10-K and the
Company's other SEC filings, in each case under the heading "Forward-Looking
Statements" and/or "Risk Factors". Such discussions regarding risk factors
and forward-looking statements are incorporated herein by reference.
SOURCE Wm. Wrigley Jr. Company
CONTACT: Christopher Perille, Senior Director - External Relations of
Wm. Wrigley Jr. Company, +1-312-645-4077