Wendy’s has finally been acquired by Arbys parent company Triarc in a deal that has been going on for about 12 months. Wendys shareholders will recieve 4.2 shares of Triarc for every 1 share that they owned of Wendys.
This deal will give Triarc more than 10,000 restaurants and more than $12 billion dollars in annual sales. That having been said it is still less than half of what fast food gian McDonalds has.
Wendys first quarter earnings fell 72% on Thursday.
As the mortgage meltdown rages in lower Manhattan, some in the business community are seeing this as an oppurtunity to turn those lemons into lemonade..
Along with his wife, Richard Schaden, founder of the Quiznos restaurant chain, is piloting a project to put buildings left vacant by the housing bust to good use. Last fall the couple donated $1.5 million to convert abandoned buildings in Denver to apartments for the homeless.