Arby's Aims To Buy Wendy's
Billionaire Peltz Considering $3.6 Billion Deal
NEW YORK (Blue MauMau) - Wendy's stock closed Monday at $33.69 per share, and SHOT UP $3.25 or 9.6% overnight as Billionaire investor Nelson Peltz, and his company Triarc takes AIM AT the 3rd largest hamburger chain in the U.S. --- WENDY'S! Peltz said he was ready to offer $37 to $41 per share for the company founded by Dave Thomas (links to flash presentation about Thomas) which would make the deal worth somewhere between $3.2 and $3.6 billion.
Triarc Companies, Inc. is a holding company and, through its subsidiaries, the franchisor of the Arby's and the owner and operator of over 1,000 Arby's restaurants located in the United States. With approximately 3,600 restaurants primarily in the United States, Arby's is the largest restaurant chain specializing in the roast beef sandwich segment and the 12th largest QSR chain overall.
Peltz in a letter to Wendy's chairman James Pickett said, Arby's would be a "natural strategic buyer" of Wendy's. In the letter Peltz also said Triarc would be willing to raise the offer based on the outcome of its due-diligence. Peltz set a deadline of 5 p.m. Wednesday for a Wendy's committee to respond to the offer and terms set out in a proposed confidentiality agreement.