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 Wendy's International Inc. agreed to sell out to Nelson Peltz's Triarc Cos. in an all-stock, $2.34 billion deal that will merge Wendy's and Arby's Restaurant Group Inc. into a 10,000-outlet fast-food company.
The joint statement from the companies said that Atlanta-based Arby's and Dublin, Ohio-based Wendy's will continue as autonomous companies, retaining their current headquarters. However, they will be overseen by a single umbrella company, which will adopt the "Wendy's" name. The statement also said the companies believe they can save about $100 million in food labor and operations costs through the merger. - Peter Moreira See full story: Peltz's Triarc ropes Wendy's Categories Deal Video
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