Wendy's Sold To Another Fast-Food Chain

[OhioChick]

Source: AP

POSTED: 10:12 am EDT April 24, 2008
UPDATED: 11:55 am EDT April 24, 2008

DUBLIN, Ohio -- The owner of Arby's said Thursday it is buying Wendy's International Inc. in an all-stock deal worth $2.34 billion that comes after the burger chain's board rejected at least two earlier offers by the company.

Triarc Companies Inc., which is owned by billionaire investor Nelson Peltz, 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.

Pam Thomas Farber, 53, daughter of Wendy's founder Dave Thomas, 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," she said.

If her father were alive to hear news of the buyout, "he would not be amused," Farber said.

Wendy's deferred comment Triarc, which said it would discuss the deal later Thursday.

Read more: http://www.newsnet5.com/news/15977678/detail.html

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Seems as though "everyone is buying everyone" these days.

[panader0]

1. $2.34 billion?

Wow. That would pay for almost a week in Iraq.

[bigworld]

2. Selling Tim Horton's was a big mistake

They'd do really well in the states if given half a chance.

[Donnachaidh]

5. oh YEAH -- I'd be right there, hooked up to the coffee pots

We discovered Tim Horton's in Nova Scotia, and that wonderful coffee fueled some wild and wooly tramping through fields, looking for family graveyards. Tim's would wipe Dunkin Doughnuts off the map!
:bounce: :bounce:

[melm00se]

14. timbits n/t

[MaineDem]

17. We have new Tim Horton stores opening all the time.

I like them a lot!

Too bad we can't get the tea biscuits they have in Nova Scotia.

[B3Nut]

32. If Tim Hortons came to Madison

they'd do well, I bet. Their coffee is wonderful. And DUTCHIES!!!!! Oh man, I LOVED those! Back when I lived in Battle Creek, I'd make pilgrimages to near Detroit (Canton) to hit Guitar Center, and would stop at the Tim's in Canton before getting back on the highway. First time I had Tim's was in Kingston, ON...fun little road trip that was, haunting Kingston with some fellow Hammond organ nuts...I love that town.

[mikelgb]

3. of fast food, these are my two favorite chains

but I try not to get any anymore

but it is hard to avoid sometimes

[Runcible Spoon]

4. Wendy's was the only fast food I would eat on the rare occasions I did...

it's still crap, but it was a little better in quality than the rest of the big chains. Oh God, I am afeared to find out what happends to Wendy's now that ARBY'S has taken over :scared:

[Donnachaidh]

6. Now Arby's will be selling hamburgers?

Both have gone downhill. I'll bet Dave is spinning in his grave over this. Arby's is selling wraps, trying to compete with that gawdawful Quiznos, and the food is dreadful. And it's darned near as expensive as a good deli visit -- so WHY BOTHER?

[Hugabear]

16. I agree, Wendy's has gone downhill lately

Can't speak for Arby's, rarely ever eat there.

I used to like getting the 99 cent double stacks at Wendy's - they were cheap drive-thru burgers that were pretty tasty. A couple of months ago, they scrapped those and starting offering "Stack Attack" burgers - nowhere near as good as the old double stack.

[Lorien]

8. I worked there as a teenager back in the 1980s. Dave Thomas would stop

by our store from time to time ( we were in Clintonville, not far from Dublin), so granted, maybe our produce was better than most. but back then i remember working prep in the back and receiving produce and meat shipments late at night. The stuff was all excellent in quality then. Several years ago I stopped by that restaurant for old times sake. My order of fries and a small frosty order took 12 minutes to fill-far from the 15 second rule we once worked by in 1982. The fries were pretty bad. I shudder to think of what the burgers are like now!

[darue]

20. yeah

would have to agree that fast food seems unable to be fast anymore. not sure why, they've got far more shortcuts than we ever did.

[N4457S]

12. It's Funny...

...but both chains were Ohio companies once, during the sixties.

Arby's got started in suburban Youngstown and of course Wendy's was always home grown.

Now, of course, there's nothing there. The manufacturing jobs went and soon after so did everything else.

[Viva_La_Revolution]

7. If her father were alive he would be embarrassed at the crap quality they're selling

not nearly as good as it used to be, perhaps Arby's will bring the quality back up. I might reconsider my decision to never eat there again.

[TommyO]

9. Considering that Arby's has gone downhill (IMHO)

I don't see that happening anytime soon.

If I want a good burger, I'll grind the meat and make them at home, either that or pull a Morningstar Grillers Prime out of the chill chest.

[N4457S]

13. Yeah...

...that's a lot better idea.

Here in northern Cal we have the best sourdough in the world. Grill a sourdough roll with fresh lettuce and tomato and then do the burger medium rare with some aged swiss and maybe mushrooms if you have any around.

Man, I think I'm gonna have an orgasm.

[TommyO]

22. Ship a roll my way, all of this burger talk has me jonesing for one

The local supermarket sells Wagyu (American Kobe-style) ground beef and it makes a great burger.

[awoke_in_2003]

10. "perhaps Arby's will bring the quality back up"

Not trying to be snarky, but when is the last time you went to an Arby's? It is total garbage now.

[RedRocco]

11. Arby's roast beef

isn't rost beef at all. Its a slurry that solidifies when you cook it, with just enough beef particles to be able to say its beef.

[Patriot Abroad]

19. "Where's the beef?"

ha ha. Snerk.

[ringtailtooter]

26. I heard this also

I worked with a food stylist in advertising that had worked on an Arby's food shoot. She said the same thing, that the stuff is hardly beef, mostly questionable fillers.

[Viva_La_Revolution]

27. well, that sucks. nt

[WildClarySage]

15. Arby's=overpriced crap 'food', IMHO

[Xenocrates]

18. Chill out folks

Triarc is in it for the profits, and would be absolutely retarded if they merged the two chains in some weird fashion. I seriously doubt the consumer will see any significant change to Arby's or Wendy's.

But I have been wrong before. :shrug:

[Patriot Abroad]

21. If you eat in any of these places, you're taking years off your life.

Here's what you really want

[Indydem]

23. I will gladly trade years of my life for the deliciousness of Wendy's.... n/t

[ohio2007]

25. but you'll retain the right to sue them if you develop health problems. nt

[fed_up_mother]

30. Hate tofu.

Longevity runs in our family, and one side was a dairy, and the other side was a butcher shop. LOL

Our lifestyle is what is killing us.

[Dreamer Tatum]

28. Triarc buys brands, improves them, and resells

No merger is forthcoming. Arby's will stay Arby's, as will Wendy's.

Look up Cadbury/Schweppes & Snapple...good examples of Triarc's purchases.

I don't like Arby's or Wendy's, though...

[keopeli]

24. My sister was the assistant to the President of Wendy's for several years...

...and it wasn't until she suddenly quit one day that I thought to ask what her salary was.

I couldn't believe it.

She said they treated her like a second-class citizen, working her long and hard hours. She's a patient southern woman and she put up with a lot, but she finally reached her breaking point and quit after being demeaned publicly one too many times by her boss in Little Rock, AR.

Her annual salary: about $24,000!

I never ate at Wendy's again.

I hope Arby's fixes the chain. I always enjoyed their fries.

peace

[JerseygirlCT]

29. Eh. I always sort of thought of those two together, anyway.

Sort of the "Second-tier" fast food places... But since all I buy at either one is the occasional soda, it doesn't really impact me.

Actually, come to think of it, at least you can get a sandwich at Arby's... And Wendy's fries suck, I'm told by the younger set here.

[MilesColtrane]

31. Wonder if they'll start giving away that disgusting Arby's "Horsey Sauce" at Wendy's now.

There going to have to hire Tom Green to harvest enough supply.

http://www.youtube.com/watch?v=KZ2mV6lqjEg