COLUMBUS, Ohio — After at least two rejections, billionaire Nelson Peltz has finally succeeded in landing Wendy’s in a $2.3 billion deal that would add the chain known for its square burger and chocolate Frosty dessert to his ownership of Arby’s and its roast-beef sandwiches.
Now, the investor known for agitating corporations to boost their stock price has to figure out how to make both profitable while the economy slumps and more Americans are saving money on food and fuel by staying home to eat.
Atlanta-based Triarc Companies Inc., owned by 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,” said Farber, 53.
