crawfish
04-24-2008, 11:13 PM
2.34 Billion sure isn't peanuts! Wow! Dave Thomas probably rolled over in his grave!
Owner of Arby's to pay $26.78 a share
By LEON STAFFORD The Atlanta Journal-Constitution
Atlanta-based Triarc Cos. Inc., which moved from New York more than a year ago when it bought roast beef king Arby's, is adding burger giant Wendy's to its portfolio. The company, owned by billionaire Nelsen Peltz, is buying the chain for about $2.34 billion in stock. It will create the third-largest fast-food chain in the country.
Wendy's CEO. "It's going to take a fair amount of time to go down and meet the people in Dublin." He said the Atlanta office of Triarc has about 400 employees.
Pam Thomas Farber, daughter of Wendy's founder Dave Thomas, called the news devastating. The family had supported an alternate bid led by Wendy's franchisee David Karam, president of Cedar Enterprises Inc. "It's a very sad day for Wendy's, and our family. We just didn't think this would be the outcome," Farber said.
http://www.q-notes.com/oped/images/oped_061706.jpg
Dave Thomas founded Wendy's in 1969 and became the face of the company when he began pitching his burgers and fries in television commercials in 1989. He died in 2002. Triarc will pay $26.78 per share for the company, which has about 87 million shares outstanding. Wendy's stock closed Thursday at $26.39, up $1.07. Under the terms of the deal, which is expected to close in the second half of the year, shareholders at Wendy's will receive 4.25 shares of Triarc Class A stock for each share of Wendy's. Here's the entire article (http://www.ajc.com/business/content/business/stories/2008/04/24/Wendys_0424.html?cxntlid=homepage_tab_newstab)
Owner of Arby's to pay $26.78 a share
By LEON STAFFORD The Atlanta Journal-Constitution
Atlanta-based Triarc Cos. Inc., which moved from New York more than a year ago when it bought roast beef king Arby's, is adding burger giant Wendy's to its portfolio. The company, owned by billionaire Nelsen Peltz, is buying the chain for about $2.34 billion in stock. It will create the third-largest fast-food chain in the country.
Wendy's CEO. "It's going to take a fair amount of time to go down and meet the people in Dublin." He said the Atlanta office of Triarc has about 400 employees.
Pam Thomas Farber, daughter of Wendy's founder Dave Thomas, called the news devastating. The family had supported an alternate bid led by Wendy's franchisee David Karam, president of Cedar Enterprises Inc. "It's a very sad day for Wendy's, and our family. We just didn't think this would be the outcome," Farber said.
http://www.q-notes.com/oped/images/oped_061706.jpg
Dave Thomas founded Wendy's in 1969 and became the face of the company when he began pitching his burgers and fries in television commercials in 1989. He died in 2002. Triarc will pay $26.78 per share for the company, which has about 87 million shares outstanding. Wendy's stock closed Thursday at $26.39, up $1.07. Under the terms of the deal, which is expected to close in the second half of the year, shareholders at Wendy's will receive 4.25 shares of Triarc Class A stock for each share of Wendy's. Here's the entire article (http://www.ajc.com/business/content/business/stories/2008/04/24/Wendys_0424.html?cxntlid=homepage_tab_newstab)