NEW YORK (AP) -- Shareholders of Wendy's and Triarc have approved a $2.34 billion deal to make the nation's No. 3 hamburger chain a part of billionaire investor Nelson Peltz's empire.
Shareholders voted Monday on Triarc Cos. Inc.'s purchase of Dublin, Ohio-based Wendy's International Inc. Directors of both companies had already OK'd the transaction.
Atlanta-based Triarc operates the Arby's fast food chain and is owned by Peltz. Triarc said in April it would buy Wendy's for $26.78 per share in an all-stock deal.
The deal is expected to close on Sept. 29.
Triarc's Chief Executive Roland Smith will take over as CEO of Wendy's and Kerrii B. Anderson, the current CEO, will step down.
(Copyright 2008 by The Associated Press. All Rights Reserved.)