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ATLANTA, Sept. 15 (UPI) -- Shareholders for Arby's and Wendy's have OK'd the fast-food restaurant chains' merger, Triarc Companies Inc. said Monday.
Triarc, owners of Arby's, said Wendy's shareholders will receive 4.25 shares of the merged company for every Wendy's share they own. The new company, called Wendy's/Arby's Group, Inc., will trade on the New York Stock Exchange under the symbol "WEN" the statement said.
"We believe our combination represents a major strategic opportunity to create significant long-term value for all of our stakeholders," said Roland Smith, chief executive officer of Triarc.
The new company will have a consolidated base in Atlanta, while the headquarters for Wendy's will remain in Dublin, Ohio, the statement said.
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