Business Services Industry
Parent Firm of Arby's Offers Bid for Burger King.
Knight Ridder/Tribune Business News, May, 2002
By Elaine Walker, The Miami Herald Knight Ridder/Tribune Business News
May 3--Burger King's sale could end up as a marriage between two South Florida fast-food companies.
Triarc, the parent company of Fort Lauderdale-based Arby's restaurants, submitted a bid last week in the auction for Burger King, according to analysts who follow the company headed by financiers Nelson Peltz and Peter May.
"It's an area they know, and it's a business they feel they can turn around," said Jan Loeb, managing director of Jefferies & Co., which follows Triarc. "They certainly can handle it. It all depends on the price they pay. You have to buy it right, turn it around and sell it right." Burger King's parent company Diageo Plc is seeking a price between $2...
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