Thursday, Apr. 24 2008
Wendy's Accepts $2.34B Buyout Offer
Want to send this article to a friend? Enter both their email address and yours and we'll email a link to this article to them.
After seeking a buyer for the last 12 months, Wendy’s hamburger chain will sell to Triarc Companies for $2.34 billion.
Triarc Companies, owned by billionaire investor Nelson Peltz, also owns Arby’s roast beef chain.
Wendy’s, the nation’s third-largest burger chain, will be offered 4.25 shares of Triarc for each of its shares. Wendy’s jumped 1.7 percent in trading this morning.
The Wendy’s board appointed a committee in April 2007 to investigate a possible sale after its sales had slacked in compared to burger giants, McDonald’s and Burger King.
Yesterday, Wendy’s shares rose by 24 cents to $25.32, while shares of Triarc fell by 11 cents to $6.30.
BECAUSE YOU CAN READ THIS, THANK A TEACHER. BECAUSE IT'S IN ENGLISH, THANK A SOLDIER.
