Bajapit
04-24-2008, 05:43 PM
Arby's Buying Wendy's For $2.34B Stock Deal
Last Edited: Thursday, 24 Apr 2008, 1:56 PM CDT
Created: Thursday, 24 Apr 2008, 1:56 PM CDT
Credit: MyFox
By MARK WILLIAMS
AP Business Writer
COLUMBUS, Ohio -- After two past rejections, the owner of Arby's shaved roast beef sandwich restaurants is buying Wendy's, the fast-food chain famous for its made-to-order square hamburgers and chocolate Frosty dessert, for around $2 billion.
Triarc Companies Inc., which is owned by billionaire investor Nelson Peltz, said Thursday it will pay about $2.34 billion in an all-stock deal for the nation's third-largest hamburger chain started in 1969 by Dave Thomas. Wendy's had rejected at least two buyout offers from Triarc.
Thomas' daughter Pam Thomas Farber said the family was devastated by the news.
"It's a very sad day for Wendy's, and our family. We just didn't think this would be the outcome," said Farber, 53.
Here is the link to the rest of the story. http://www.myfoxkc.com/myfox/pages/Business/Detail?contentId=6386250&version=1&locale=EN-US&layoutCode=TSTY&pageId=4.1.1
Last Edited: Thursday, 24 Apr 2008, 1:56 PM CDT
Created: Thursday, 24 Apr 2008, 1:56 PM CDT
Credit: MyFox
By MARK WILLIAMS
AP Business Writer
COLUMBUS, Ohio -- After two past rejections, the owner of Arby's shaved roast beef sandwich restaurants is buying Wendy's, the fast-food chain famous for its made-to-order square hamburgers and chocolate Frosty dessert, for around $2 billion.
Triarc Companies Inc., which is owned by billionaire investor Nelson Peltz, said Thursday it will pay about $2.34 billion in an all-stock deal for the nation's third-largest hamburger chain started in 1969 by Dave Thomas. Wendy's had rejected at least two buyout offers from Triarc.
Thomas' daughter Pam Thomas Farber said the family was devastated by the news.
"It's a very sad day for Wendy's, and our family. We just didn't think this would be the outcome," said Farber, 53.
Here is the link to the rest of the story. http://www.myfoxkc.com/myfox/pages/Business/Detail?contentId=6386250&version=1&locale=EN-US&layoutCode=TSTY&pageId=4.1.1