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

Columbus despairs as layoffs loom
By Kevin Spak,  Newser Staff
Posted Apr 25, 2008 12:08 PM CDT
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)

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.” (More mergers and acquisitions stories.)

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