Law Firms
Simpson Thacher and Skadden Arps Handle Mars-Wrigley Deal
Posted Apr 29, 2008, 08:39 am CDT
By Debra Cassens Weiss
Two powerhouse law firms are handling details of candy maker Mars Inc.’s $23 billion buyout of the Wrigley chewing gum company.
Simpson Thacher & Bartlett handled the negotiations for Mars, the AmLaw Daily blog reports. Wrigley is represented by Skadden, Arps, Slate, Meagher & Flom.
The Wall Street Journal reports that Wrigley Chairman Bill Wrigley Jr. believes going private will relieve regulatory pressures and allow the company to avoid disclosure requirements. Mars will pay $80 a share for Wrigley stock in the $23 billion deal financed in part by Warren Buffett's Berkshire Hathaway Inc.
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