Wendy's/Arby's shareholder Trian to purchase 49.4 million shares in tender offer ended Friday

By Lisa Kerner

Charlotte, N.C., Dec. 8 - Trian Fund Management, LP said preliminary results show that approximately 219,174,545 shares of Wendy's/Arby's Group, Inc. class A common stock were tendered and not withdrawn in Trian's offer that ended Friday.

The total includes approximately 31,897,993 shares that were tendered by notices of guaranteed delivery, Trian Partners said.

Trian Partners will purchase 49,395,394 shares for $4.15 each for a total purchase price of $204.99 million.

The estimated proration factor for the offer is 22.5%.

The shares being purchased include the 40 million shares Trian originally offered to purchase and an additional 2%, or 9,395,394 shares, of Wendy's/Arby's.

As a result of the offer, Trian is increasing its beneficial ownership in Wendy's/Arby's to 21.6% from 11.1%.

American Stock Transfer & Trust Co., LLC will verify the final offer results.

Wendy's/Arby's Group is the third-largest quick-service restaurant company in the United States and is the franchisor of the Dublin, Ohio-based Wendy's and Atlanta-based Arby's restaurant systems.

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