Triarc announces $1 million gift to Wendy's foundation in celebration of company's merger with Arby's

By Lisa Kerner

Charlotte, N.C., April 25 - Triarc Cos., Inc. chairman Nelson Peltz and vice chairman Peter May said they plan to give $1 million to the Dave Thomas Foundation to celebrate the merger of Wendy's International, Inc. and Arby's expected to occur later this year.

On April 24, Arby's franchisor Triarc agreed to acquire Wendy's in an all-stock transaction that gives Wendy's shareholders a fixed ratio of 4.25 shares of Triarc class A common stock for each share of Wendy's common stock they own, a prior Triarc news release said.

Following the transaction's close, Triarc will change its name to include "Wendy's."

It was previously reported that Arby's and Wendy's will continue to operate as autonomous brand business units based in Atlanta and Dublin, Ohio, respectively.

An Atlanta-based consolidated support center will oversee all public company responsibilities and other central service functions, resulting in "substantial corporate overhead savings," Triarc said.

Wendy's is a quick service restaurant chain.

Triarc is a holding company and the franchisor of the Arby's restaurant system.

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