Warren BuffettWhat’s one of Warren Buffett’s advantages in this environment, when credit is tight, markets are in disarray and deals are so difficult to do?

Simplicity, apparently.

The famed investor gave a financing commitment letter that was just two-and-a-half pages long in the Mars-Wrigley deal, said Timothy Ingrassia, Goldman Sachs’s head of mergers in Americas.

Compare that to deal contracts that average about 90 pages these days and commitment papers that run into hundreds of pages, Ingrassia said during a panel discussion at a Practising Law Institute seminar on M&A in New York.

Chicago-based Wrigley agreed to be acquired by Mars in April. Buffett helped to finance the deal. When it announced the deal, Mars said other financing would be provided by Goldman Sachs and JPMorgan Chase.

(Photo: Warren Buffett, REUTERS/Mario Anzuoni)