Peltz's Triarc to buy Wendy's
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Thu, 24 Apr 2008 12:29:02 GMT |
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Reuters |
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NEW YORK (Reuters) - Wendy's International Inc has agreed to be bought by Triarc Cos Inc , the investment arm of billionaire investor Nelson Peltz, in a deal that would bring Triarc's Arby's restaurant chain and Wendy's under one umbrella, both companies said on Thursday.Under the terms of the deal, Wendy's shareholders would receive 4.25 Class A Triarc shares for each Wendy's share they own.Triarc would change its corporate name to include "Wendy's," but Arby's and Wendy's would operate as autonomous brand business units headquartered in Atlanta, Georgia, and Dublin, Ohio, respectively, both companies said.(Reporting by Jui Chakravorty, editing by Gerald E. McCormick)
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