Deerfield Triarc shareholders approve share issuance as part of merger

By Lisa Kerner

Charlotte, N.C., Aug. 9 - Deerfield Triarc Capital Corp. shareholders approved the issue of 9,635,192 shares of the company's common stock worth $145 million to the members of Deerfield & Co. LLC. Shareholders voted at Deerfield's annual meeting on Aug. 9.

As previously reported, issuance of the shares is in consideration for the company's acquisition of Deerfield from Triarc Cos. Inc. first announced on April 20. The transaction, valued at about $290 million, includes the share issuance and $145 million in cash.

At the Aug. 9 meeting, shareholders also voted to approve the re-election of directors Robert B. Machinist and Jonathan W. Trutter, an amendment and restatement of the stock incentive plan and ratification of the appointment of Deloitte & Touche LLP as independent auditors.

Deerfield Triarc is a diversified financial company formed to invest in real estate-related securities and other asset classes. Deerfield, Deerfield Triarc's external manager, is a Chicago-based registered investment adviser with offices in New York and London.

Triarc is a holding company and, through its subsidiaries, is the franchisor of the Arby's restaurant system.

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