ARBY'S TO BUY WENDY'S

Wendy's has been exploring sales options for quite some time and has accepted a bid from Triarc, the parent of Arby's.

From The New York Times:

The owner of Arby’s, the Triarc Companies, said Thursday that it was buying the hamburger chain, Wendy’s International, 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, which is owned by the billionaire investor Nelson Peltz, will pay about $26.78 a share for the company, which has about 87 million shares outstanding. The price is a premium of 6 percent over Wednesday’s closing price of $25.32.