Wendy's/Arby's shareholder Trian reports final results of tender offer, proration factor is 22.772%

By Lisa Kerner

Charlotte, N.C., Dec. 11 - Trian Fund Management, LP purchased 49,395,394 shares of Wendy's/Arby's Group, Inc. class A common stock for $4.15 per share for a total of $204.99 million in its partial tender offer ended Dec. 5.

The 49,395,394 shares are comprised of the 40 million shares Trian offered to purchase and 9,395,394 shares acquired under Trian's right to purchase up to an additional 2% of the outstanding shares.

American Stock Transfer & Trust Co. LLC provided a final tabulation for the offer and said 216,909,065 shares of class A common stock were properly tendered and not withdrawn in the tender offer.

The proration factor for the offer is approximately 22.772%, said Trian.

In November Trian announced it would purchase up to 40 million shares of Wendy's/Arby's class A common stock, or approximately 8.5% of the shares outstanding, for $4.15 per share.

Trian and its affiliates now beneficially own 101,456,002 shares, or approximately 21.6%, of Wendy's/Arby's outstanding class A common stock.

Wendy's/Arby's Group is the third-largest quick-service restaurant company in the United States and is the franchisor of the Dublin, Ohio-based Wendy's and Atlanta-based Arby's restaurant systems.

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