Entries tagged "Triarc"
Activist investor and CEO of Trian Nelson Peltz fights a rumor that he's targeting money manager Legg Mason.
These days it seems the credit ratings of a company from Standard & Poor's has become a difficult barometer to use to measure the creditworthiness of an entity. Remember Enron Corp., MCI Inc. and the sudden fallout of mortgage lenders? The credit agencies including S&P failed to warn investors on the impending implosion of those companies. So, when S&P said Thursday that it changed its CreditWatch implications for Atlanta, Ga.-based Arby's Restaurant Group Inc. to developing from negative, the move seemed to give a hazy forecast to the company's creditworthiness. ...
Over the last couple of quarters, Wendy's International Inc. [WEN] investors such as Nelson Peltz have been asking company executives, "Where's the beef?" due to thin earnings. Now, Peltz's Triarc Cos. will be flipping burgers with its $2.34 billion offer to acquire Wendy's, headlining a number of deal developments that impacted Thursday midday trading. Investors were also looking at Blockbuster Inc.'s bid for electronics retailer Circuit City Stores Inc. as well as a sprinkling of earnings announcements of Deal Stocks. Overall, the Dow was trading up 66.03, or 0.5%, to 12,829.41 while the Nasdaq traded up 18.26, or 0.76%, to...
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. ...
After a year of searching for a buyer, Wendy's International Inc. will merge with Triarc Cos., owner of Arby's Restaurant Group Inc., for $2.3 billion. The fast-food industry has been gorging on mergers the past few years, and we have followed every deal binge in Dealwatch: Fast food.Wendy's financial advisers for the deal were J.P. Morgan Securities Inc. and Greenhill & Co. LLC. Wendy's sought legal counsel from Akin Gump Strauss Hauer & Feld LLP and Winston and Strawn LLP, and the special committee's legal adviser was Baker & Hostetler LLP.Triarc's financial advisers were Wachovia Securities and Merrill Lynch &...
