http://abcnews.go.com/Business/IndustryInfo/story?id=4717253&page=1 COLUMBUS, Ohio (AP) -- After two past rejections, the owner of Arby's shaved roast beef sandwich restaurants is buying Wendy's, the fast-food chain famous for its made-to-order square hamburgers and chocolate Frosty dessert, for around $2 billion. Triarc Companies Inc., which is owned by billionaire investor Nelson Peltz, said Thursday it will pay about $2.34 billion in an all-stock deal for the nation's third-largest hamburger chain started in 1969 by Dave Thomas. Wendy's had rejected at least two buyout offers from Triarc. Thomas' daughter Pam Thomas Farber said the family was devastated by the news. "It's a very sad day for Wendy's, and our family. We just didn't think this would be the outcome," said Farber, 53. If her father were alive to hear news of the buyout, "he would not be amused," she said. Thomas became a household face when he began pitching his burgers and fries in television commercials in 1989. Wendy's International Inc. deferred comment to Triarc, which had nothing further to say right away. Triarc will pay about $26.78 per share for the company, which has about 87 million shares outstanding. The price is a premium of 6 percent from the company's closing price of $25.32 Wednesday. 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 stock they own. Atlanta-based Triarc said its shareholders will have to approve a charter amendment in which each share of its Class B stock will be converted into Class A stock. The Wendy's board has been studying strategic alternatives since early last year, and expenses related to that contributed to the company's 72 percent drop in first-quarter earning announced Thursday. Wendy's said its profits totaled $4.1 million, or 5 cents, a share for the quarter ended March 30 compared with a profit of $14.7 million, or 15 cents a share, a year ago. Revenue was down slightly to $513 million from $522 million a year ago.
Michael Scott: Okay. Wendy. "Hot and juicy redhead." I'll give this a try. [dials number] Woman: Wendy's. Michael Scott: Hello, Wendy. This is Kevin's friend, Michael. Woman: This.. isn't Wendy. Michael Scott: Oh I'm sorry could you put her on please. Woman: Dude, this is a Wendy's resturant. Michael Scott: Okay.. Okay. Could I just have a Frosty and a baked potato please. Woman: You have to come to the resturant to order food. Michael Scott: Well I'll send somebody to pick it up. Just have it ready. Woman: It's ready now. Michael Scott: Well put it aside. [hangs up phone]
So what does this mean aside from new ownership? Will the Wendy's name still be used? Same menu, i'd assume?
This won't change the mightiness of the .99 menu... right? Arby's is like a step up from fast food, even if the price is barely higher. There never seems to be an Arby's around when you want one.
Arby's is pure greatness. Last summer when I drove from the Northwest back to Austin, I must have eaten Arby's like 7 times.
This is some of the worst news ever. Arby's is *****ty food for incredibly expensive prices, and I really really don't like it. Wendy's, I hope to god they don't change your management.
Same thing I'm thinking. Forget a combo; 2 burgers, 2 5pc nuggets, and some .99 fries an I'm good to go.
The only thing I can eat from Arby's is the Beef and Cheddar. Probably have had two in the last 10 years. Wendy's is my favorite burger joint by far. They shot right to the top of my list when they first opened when I was a kid.
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