Triarc to gobble up US hamburger chain Wendy's

0 Comments | AFP, April, 2008

NEW YORK (AFP) — Triarc Companies is buying hamburger chain Wendy's International in a 2.3-billion-dollar stock deal aimed at creating the nation's third-largest US fast-food group, the companies announced Thursday.

Wendy's shareholders will receive 4.25 shares in Triarc, the owner of Arby's roast beef sandwich chain, for each of their shares.

Based on Triarc's closing share price Wednesday of 6.30 dollars, Wendy's shareholders will receive a modest six percent premium.

The two companies expect to complete the takeover in the second half of 2008. The transaction requires approval by the shareholders of both companies and regulators. Wendy's, whose founder Dave Thomas died in 2002, agreed to be acquired a year ago.

Shareholders welcomed the deal....