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  "authorName": "Pershing Square Capital Management",
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      "text": "Wendy’s / Arby’s combination could be worth over $50 per share after achieving cost savings",
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      "text": "Good business trading at an attractive price even on an “unfixed” and standalone basis\nSignificant turnaround opportunity at Wendy’s company-operated stores\nTriarc offer brings experienced leadership and allows Wendy’s to purchase Arby’s at an attractive price\nTriarc offer allows Wendy’s shareholders to benefit from the majority of the G&A synergies\nWendy’s / Arby’s combination could be worth over $50 per share after achieving cost savings",
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