The chocolate wars that roiled Hershey and Cadbury Schweppes last year may now be extending to the sprawling empire of gum – specifically, Wm. Wrigley Jr. Co.’s sprawling empire of gum, as Mars Inc. reportedly tilts at a merger, roping in one of Wall Street’s usual suspects to pitch in. Could a deal be in the cards as soon as today?

Mars Inc. and Warren Buffett's Berkshire Hathaway Inc. were close to a pact to acquire Wm. Wrigley Jr. Co. for more than $22 billion, according to people familiar with the matter, in a deal that would remake the global confectionery landscape.

A deal would unite two icons of the U.S. candy business: Wrigley, maker of the eponymous chewing gum, and Mars, the closely held company behind Snickers chocolate bars and M&M's.

The transaction was expected to be announced as early as Monday, the people said. Both companies declined to comment.

Terms of the deal weren't immediately clear, but Wrigley has a stock market value of about $17.3 billion and it appeared that the buyers were prepared to offer a rich premium.

Under one scenario under discussion, Berkshire would likely provide financing to Mars for the deal and become a stakeholder in Wrigley, according to people close to the deal.

A deal would expand Mars's already considerable global reach. Wrigley generates the majority of its sales outside of the U.S. In recent years, it has expanded its offerings well beyond chewing gum. Mars is the world's largest maker of chocolate by sales, with a market share of 15%.

A deal could spark further consolidation in the global candy business. Hershey Co. and Cadbury Schweppes PLC, for example, could be forced to merge. The two discussed a deal last year, but talks fell apart.

A weak dollar and strong foreign demand have boosted Wrigley's profit recently. But the company has struggled in the U.S., where it faces intense competition.

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