Chew on this: Wrigley shareholders OK Mars deal to form biggest candy firm

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.

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

The sale to privately held Snickers and M&M maker Mars bumps Britain's Cadbury PLC from the position of world's largest candy company.

Bill Wrigley Jr., executive chairman and fourth-generation family member to lead the business, told shareholders the company respected its past as a family-run business but had to look forward. He said the company will be able to grow in new ways under Mars' ownership.