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May 17, 2008 12:50:13 AM CDT

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Arby's Purchase of Wendy's 'Sad Day' for Thomas Family  

Posted Apr 25, 08 12:08 PM CDT in Business    Most Covered

(newser) – After years of haggling, Arby’s owner Nelson Peltz reached a deal to acquire Wendy’s yesterday, ending the involvement of the Thomas family that founded it. Wendy Thomas herself called the sale a “huge, huge disappointment,” the Columbus Dispatch reports. The family had hoped local franchisee J. David Karam would acquire the company. “It’s a sad day for Columbus,” said Karam.

Peltz is paying $2.3 billion for Wendy’s, giving shareholders a 6% premium over Wednesday’s closing price. But fear has taken hold in the company's headquarters, because layoffs will be part of the company's restructuring. “Everyone's concerned,” said one long-time employee. “It’s sad for everyone. We’ve been here so long.”

Source Columbus Dispatch

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Arby's Purchase of Wendy's 'Sad Day' for Thomas Family
Popular fast food eateries Arby's and Wendy's are shown adjacent to one another along "fast food row" near downtown Jackson, Miss., Thursday, April 24, 2008.   (AP Photo/Rogelio V. Solis)
Arby's Purchase of Wendy's 'Sad Day' for Thomas Family
Popular fast food eateries, Arby's and Wendy's are shown adjacent to one another along "fast food row" near downtown Jackson, Miss., Thursday, April 24, 2008.   (AP Photo/Rogelio V. Solis)
Arby's Purchase of Wendy's 'Sad Day' for Thomas Family
Wendy's restaurant sign is seen Thursday, April 24, 2008, in Columbus, Ohio.   (AP Photo/Kiichiro Sato)
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mergers and acquisitions  • Ohio  • fast food  • fast food industry  • Columbus  • Wendy's


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