Absurd price for Wrigley
April 28th, 2008Since no one else will say it, I will. Mars and Buffett are paying an absolutely absurd price for Wrigley. 28 times 2009 earnings? Are you kidding me? With commodity prices up so much and a weak consumer, I doubt they will even make those 2009 estimates. By the way, those estimates are quietly coming down.
Now, I know Berkshire is getting a discount to the absurd price that Mars is paying, but it can’t be that much of a discount.
While the deal clearly has strategic value to Mars, the price paid for this acquisition is ridiculous.
I admire Buffett as much as anyone, but people need to wake up and see that this is not such a good deal or good price.