August 30, 2007
Wendys/Triarc Talks Advance
A possible purchase of Wendy’s by Triac Companies Inc., owner of Arby’s, appears to be moving forward (see earlier blog posting). According to this article, Wendy’s has now entered into a confidentiality agreement with Trian Fund Management, L.P. and Triarc Companies. Nelson Peltz, CEO of Trian and Chairman of Triarc, already owns 9.8% of Wendy’s stock. Wendy’s initially appeared reluctant to sell, but is now “closer to considering a sale, after slashing its earnings outlook for the year amid weak sales and high commodity costs.”