Will Triarc Save Wendy's?

Investors hope the struggling fast-food chain will improve after agreeing to be acquired by the owner of Arby's

Wendy's International's (WEN) disappointing earnings news was overshadowed by a deal with Triarc (TRY), franchisor of Arby's, to purchase the struggling fast-food company in an all-stock deal worth $2.34 billion. It marks the end of a nearly two-and-a-half year campaign by Nelson Peltz, who owns 10% of the company through his ownership of Trian Partners, to force a turnaround at the struggling hamburger joint.

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