Triarc and Wendy’s Shareholders Approve Merger, closing expected by end of september
Triarc and Wendy’s Shareholders Approve Merger, closing expected by end of september
Triarc Companies, Inc. (NYSE: TRY;TRY.B), the parent company of Arby’s Restaurant Group, Inc. which is the franchisor of the Arby’s® restaurant system, and Wendy's International, Inc. (NYSE: WEN), announced today that their respective shareholders have approved all proposals related to the pending merger.
Upon consummation of the merger, the combined company will be called Wendy’s/Arby’s Group, Inc. and will trade under the symbol “WEN” on the New York Stock Exchange. Triarc and Wendy’s® expect that the merger will be consummated on or about September 29, 2008.
Under the merger agreement, Wendy’s shareholders will receive 4.25 shares of Triarc’s Class A common stock for each share of Wendy’s common stock that they own. In addition, each outstanding share of Triarc Class B common stock, Series 1, will be converted into one share of Triarc Class A common stock, resulting in a post-merger company with a single class of common stock.
Upon consummation of the merger, the combined company will be called Wendy’s/Arby’s Group, Inc. and will trade under the symbol “WEN” on the New York Stock Exchange. Triarc and Wendy’s® expect that the merger will be consummated on or about September 29, 2008.
Under the merger agreement, Wendy’s shareholders will receive 4.25 shares of Triarc’s Class A common stock for each share of Wendy’s common stock that they own. In addition, each outstanding share of Triarc Class B common stock, Series 1, will be converted into one share of Triarc Class A common stock, resulting in a post-merger company with a single class of common stock.
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