Warren Buffett called into CNBC's Squawk Box this morning (Monday) to discuss Berkshire Hathaway's financing role in a $23 billion dollar deal that has candy-maker Mars buying gum-maker Wm. Wrigley Jr. Co.
That's $80 a share for Wrigley. Current price:
Wrigley will become a subsidiary of Mars. Berkshire gets a minority equity stake in the new Wrigley subsidiary.
It's a classic brand-play for Buffett. In a live telephone conversation this morning, Buffett tells the Squawk Box team. "There's really nothing that can go wrong with something like the Wrigley or the Mars Brands."
Buffett says executives at Mars asked him to get involved in the deal, although he notes that acting as a "finance provider" for a deal is not a common Berkshire role.