Dealboard

Nation's Restaurant News,  April 28, 2008  

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DEALBOARD
SELECTED
MERGER AND
ACQUISITION
ACTIVITY

TARGET:     Wendy's International Inc.

ACTION:     Suitor and investor Trian Fund Management and
            Arby's parent Triarc Cos. Inc. said Wendy's rejected
            two acquisition offers, one that would have merged
            Arby's and Wendy's, and one that would have been a
            100-percent buyout of Wendy's for $900 million in
            cash and additional stock. Trian called for Wendy's to
            hold a special shareholder meeting to "decide the
            future of their company."

STATUS:     Pending

COMMENTS:   Nelson Peitz, whose funds hold 9.8% of Wendy's
            stock, heads both Trian and Triarc. He had been willing
            to bid as much as $3.6 billion for Wendy's last
            summer, before the tightening of credit markets and
            deteriorating performance at Wendy's.

TARGET:     Jalapenos Mexican Restaurant
            (1 unit in Lake Forest, Calif.)

ACQUIRER:   AVT Inc. (formerly Automated Vending Technologies)

ACTION:     Acquisition closed, terms undisclosed.

COMMENTS:   AVT said it intends to use Jalapenos cuisine in its
            vending machines, and plans to grow the Jalapenos
            brand. Buyer serves more than 300 government and
            commercial vending accounts in Southern California.

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