UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 15)*
Wendy's International, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.10 stated value
--------------------------------------------------------------------------------
(Title of Class of Securities)
950590109
--------------------------------------------------------------------------------
(CUSIP Number)
Brian L. Schorr, Esq.
Chief Legal Officer
Trian Fund Management, L.P.
280 Park Avenue, 41st Floor
New York, New York 10017
(212) 451-3000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 16, 2008
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box |_|.
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The Information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Fund Management, L.P.
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 20-3454182
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,637,787
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,637,787
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,637,787
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Fund Management GP, LLC
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 20-3454087
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,637,787
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,637,787
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,637,787
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners GP, L.P.
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 20-3453775
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,471,324
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,471,324
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,471,324
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners General Partner, LLC
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 20-3453595
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,471,324
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,471,324
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,471,324
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners, L.P.
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 20-3453988
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 1,083,844
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,083,844
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,083,844
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners Master Fund, L.P.
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 98-0468601
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 3,381,522
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,381,522
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,381,522
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners Parallel Fund I, L.P.
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 20-3694154
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 135,712
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
135,712
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
135,712
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners Parallel Fund I General Partner, LLC
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 20-3694293
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 135,712
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
135,712
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
135,712
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners Parallel Fund II, L.P.
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 87-0763105
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 30,751
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
30,751
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,751
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners Parallel Fund II GP, L.P.
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 87-0763102
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 30,751
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
30,751
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,751
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Trian Partners Parallel Fund II General Partner, LLC
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 87-0763099
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 30,751
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
30,751
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,751
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Triarc Companies, Inc.
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 38-0471180
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Nelson Peltz
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,637,787
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,637,837
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,637,837
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Peter W. May
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,637,837
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,637,837
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,637,837
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
CUSIP NO.: 950590109
1 NAMES OF REPORTING PERSONS
Edward P. Garden
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,637,837
REPORTING ---------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,637,837
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,637,837
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
* These percentages are calculated based on 88,104,018 shares of Wendy's
Common Stock outstanding as of August 5, 2008, as reported in the Company's
joint proxy statement/prospectus, filed by Triarc Companies, Inc. on Form S-4/A
on August 14, 2008.
INTRODUCTORY STATEMENT
This Amendment No. 15 (this "Amendment") relates to the Schedule 13D filed on
behalf of Trian Partners GP, L.P., a Delaware limited partnership ("Trian GP"),
Trian Partners General Partner, LLC, a Delaware limited liability company
("Trian GP LLC"), Trian Partners, L.P., a Delaware limited partnership ("Trian
Onshore"), Trian Partners Master Fund, L.P., a Cayman Islands limited
partnership ("Trian Offshore"), Trian Partners Master Fund (Non-ERISA), L.P., a
Cayman Islands limited partnership ("Trian Offshore (Non-ERISA)"), Trian
Partners Parallel Fund I, L.P., a Delaware limited partnership ("Parallel
Fund"), Trian Partners Parallel Fund I General Partner, LLC, a Delaware limited
liability company ("Parallel Fund GP"), Trian Partners Parallel Fund II, L.P., a
Delaware limited partnership ("Parallel Fund II"), Trian Partners Parallel Fund
II GP, L.P., a Delaware limited partnership ("Parallel Fund II GP"), Trian
Partners Parallel Fund II General Partner, LLC, a Delaware limited liability
company ("Parallel Fund II GP LLC"), Trian Fund Management, L.P., a Delaware
limited partnership ("Trian Management" or "Trian"), Trian Fund Management GP,
LLC, a Delaware limited liability company ("Trian Management GP" and together
with the foregoing, the "Trian Entities"), Nelson Peltz, a citizen of the United
States of America, Peter W. May, a citizen of the United States of America,
Edward P. Garden, a citizen of the United States of America (the Trian Entities
and Messrs. Peltz, May and Garden are sometimes hereinafter referred to
collectively as the "Trian Filing Persons"), Jerry W. Levin, a citizen of the
United States of America, Castlerigg Master Investments Ltd. ("CMI"), Sandell
Asset Management Corp. ("SAMC"), Castlerigg International Limited ("CIL"),
Castlerigg International Holdings Limited ("CIHL") and Thomas E. Sandell
("Sandell", and collectively with CMI, SAMC, CIL and CIHL, the "Sandell Filing
Persons"; the Trian Filing Persons and the Sandell Filing Persons, collectively,
the "Trian/Sandell Filing Persons"), with the Securities and Exchange Commission
on December 13, 2005 (as amended by Amendment No. 1 to Schedule 13D filed by the
Trian/Sandell Filing Persons with the Securities and Exchange Commission on
January 17, 2006, Amendment No. 2 to Schedule 13D filed by the Trian/Sandell
Filing Persons with the Securities and Exchange Commission on March 3, 2006,
Amendment No. 3 to Schedule 13D filed by the Trian/Sandell Filing Persons with
the Securities and Exchange Commission on April 28, 2006, Amendment No. 4 to
Schedule 13D filed by the Trian/Sandell Filing Persons with the Securities and
Exchange Commission on May 31, 2006, Amendment No. 5 to Schedule 13D filed by
the Trian/Sandell Filing Persons with the Securities and Exchange Commission on
December 4, 2006, Amendment No. 6 to Schedule 13D filed by the Trian/Sandell
Filing Persons and Triarc Companies, Inc., a Delaware corporation ("Triarc",
and, together with the Trian/Sandell Filing Persons, the "Triarc/Trian/Sandell
Filing Persons") with the Securities and Exchange Commission on July 3, 2007,
Amendment No. 7 to Schedule 13D filed by the Triarc/Trian/Sandell Filing Persons
with the Securities and Exchange Commission on July 30, 2007, Amendment No. 8 to
Schedule 13D filed by the Triarc/Trian/Sandell Filing Persons with the
Securities and Exchange Commission on August 28, 2007, Amendment No. 9 to
Schedule 13D filed by the Triarc/Trian/Sandell Filing Persons with the
Securities and Exchange Commission on September 17, 2007, Amendment No. 10 to
Schedule 13D filed by the Triarc/Trian/Sandell Filing Persons with the
Securities and Exchange Commission on October 12, 2007, Amendment No. 11 to
Schedule 13D filed by the Triarc/Trian/Sandell Filing Persons with the
Securities and Exchange Commission on November 13, 2007, Amendment No. 12 to
Schedule 13D filed by the Triarc/Trian/Sandell Filing Persons
and Mr. Levin (the Triarc/Trian/Sandell Filing Persons and Mr. Levin,
collectively, the "Triarc/Trian/Sandell/Levin Filing Persons") with the
Securities and Exchange Commission on February 11, 2008, Amendment No. 13 to
Schedule 13D filed by the Triarc/Trian/Sandell/Levin Filing Persons with the
Securities and Exchange Commission on April 18, 2008 and Amendment No. 14 to the
Schedule 13D filed by the Triarc/Trian/Sandell/Levin Filing Persons with the
Securities and Exchange Commission on April 30, 2008) (the "Schedule 13D"),
relating to the Common Shares, $.10 stated value (the "Shares"), of Wendy's
International, Inc., an Ohio corporation (the "Issuer" or "Wendy's"). For
purposes of this Amendment No. 15 to the Schedule 13D, the Trian Filing Persons
and Triarc constitute the "Filing Persons." Each capitalized term used but not
defined herein has the meaning ascribed to such term in the Schedule 13D.
Items 2, 4, 5, 6 and 7 of the Schedule 13D are hereby amended and supplemented
as follows:
Item 2. Identify and Background.
On September 16, 2008, Trian Management and SAMC entered into a Termination
Agreement ("Termination Agreement") pursuant to which the Agreement between
Trian Management and SAMC, dated November 4, 2005, as amended (the "Agreement")
was terminated, effective immediately, with certain provisions relating to
expenses, indemnification and regulatory reporting surviving the termination.
Accordingly, the Sandell Filing Persons are no longer reporting persons on this
Schedule 13D.
Trian Partners L.P. had previously indicated that it intended to nominate Jerry
W. Levin to the Board of Directors of the Issuer at the Issuer's 2008 Annual
Meeting. However, Trian Partners L.P. has not nominated, and no longer intends
to nominate Mr. Levin to the Board of Directors of the Issuer, and as such, Mr.
Levin is no longer a reporting person on this Schedule 13D.
Item 4. Purpose of the Transaction.
The Filing Persons intend to review their investment in the Issuer on a
continuing basis. Depending on various factors, including, without limitation,
the Issuer's financial position, results and strategic direction, price levels
of the common stock of the Issuer, conditions in the securities and credit
markets and general economic and industry conditions, the Filing Persons may
take such actions with respect to their investment in the Issuer as they deem
appropriate.
Upon consummation of the merger between Triarc and the Issuer, all of the
outstanding common stock of the Issuer will be converted into shares of common
stock of Triarc. Therefore, any acquisition of common stock of the Issuer made
by the Filing Persons prior to completion of the merger, will have the effect of
increasing the Filing Persons' investment in Triarc following completion of the
merger. The Filing Persons currently intend to increase their investment in
Triarc and/or the Issuer through the acquisition of additional common stock of
Triarc and/or the Issuer. Future acquisitions of common stock of Triarc and/or
the Issuer will depend, among other things, on market and economic conditions,
the Filing Persons' overall investment strategies and capital availability and
applicable regulatory and legal constraints, and there can be no assurance that
the Filing Persons will acquire additional common stock of Triarc or the
Issuer. The Filing Persons reserve the right to change their current plans and
intentions, which may include a decision not to acquire additional common stock
of Triarc or the Issuer.
Item 5. Interest in Securities of the Issuer
Pursuant to a Stock Purchase Agreement, between TCMG-MA, LLC, Trian Onshore,
Trian Offshore and Trian Management, dated September 12, 2008 (the "Stock
Purchase Agreement"), Trian Onshore and Trian Offshore purchased from TCMG-MA,
LLC, an account managed by Trian Management, an aggregate of 251,320 Shares of
common stock of the Issuer for a purchase price of $22.84 per share. As a
result, (i) Trian Onshore has the shared power to dispose of and the shared
power to vote 1,083,844 Shares of common stock of the Issuer, which represents
approximately 1.2% of the outstanding Shares of common stock of the Issuer; (ii)
Trian Offshore has the shared power to dispose of and the shared power to vote
3,381,522 Shares of common stock of the Issuer, which represents approximately
3.8% of the outstanding Shares of common stock of the Issuer; (iii) Trian GP,
the general partner of Trian Onshore and Trian Offshore has the shared power to
dispose of and the shared power to vote 4,471,324 Shares of common stock of the
Issuer, which represents approximately 5.1% of the outstanding Shares of common
stock of the Issuer and (iv) Trian GP LLC, the general partner of Trian GP has
the shared power to dispose of and the shared power to vote 4,471,324 Shares of
common stock of the Issuer, which represents approximately 5.1% of the
outstanding Shares of common stock of the Issuer. A copy of the Stock Purchase
Agreement is filed herewith as Exhibit 22 and incorporated herein by reference,
and the description of the Stock Purchase Agreement herein is qualified in its
entirety by reference to the Stock Purchase Agreement filed herewith.
As a result of the Termination Agreement (discussed in Item 2), each of Trian
Management, Trian Management GP, Nelson Peltz, Peter W. May and Edward P. Garden
no longer may be deemed to share voting power and/or dispositive power with
regard to the Shares that the Sandell Filing Persons directly and beneficially
own, and therefore, no longer may be deemed to beneficially own (as that term is
defined in Rule 13d-3 under the Act) such Shares.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer
As discussed in Item 2, on September 16, 2008, Trian Management and SAMC entered
into the Termination Agreement, pursuant to which, the Agreement was terminated,
effective immediately. The provisions of Sections 3 (Expenses; Indemnification;
Contribution) and 4 (Regulatory Reporting) and the governing law provisions set
forth in Section 6(a) of the Agreement survive the termination of the Agreement.
Accordingly, the Sandell Filing Persons are no longer reporting persons on this
Schedule 13D. A copy of the Termination Agreement is filed herewith as Exhibit
23 and incorporated herein by reference, and the description of the Termination
Agreement herein is qualified in its entirety by reference to the Termination
Agreement filed herewith.
Item 7. Material to be Filed as Exhibits.
22. Stock Purchase Agreement between TCMG-MA, LLC, Trian Onshore, Trian Offshore
and Trian Management, dated September 12, 2008.
23. Termination Agreement between Trian Management and SAMC, dated September 16,
2008.
SIGNATURE
After reasonable inquiry and to the best of each of the undersigned's
knowledge and belief, each of the undersigned certifies that the information set
forth in this statement is true, complete and correct.
TRIAN PARTNERS GP, L.P.
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
TRIAN PARTNERS GENERAL PARTNER, LLC
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
TRIAN PARTNERS, L.P.
By: Trian Partners GP, L.P.,
its general partner
By: Trian Partners General Partner,
LLC, its general partner
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
TRIAN PARTNERS MASTER FUND, L.P.
By: Trian Partners GP, L.P., its
general partner
By: Trian Partners General Partner,
LLC, its general partner
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
[Signature Page to Amendment No. 15 of Wendy's Schedule 13D]
TRIAN PARTNERS PARALLEL FUND I, L.P.
By: Trian Partners Parallel Fund I
General Partner LLC, its general
partner
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
TRIAN PARTNERS PARALLEL FUND I
GENERAL PARTNER, LLC
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
TRIAN PARTNERS PARALLEL FUND II,
L.P.
By: Trian Partners Parallel Fund II
GP, L.P., its general partner
By: Trian Partners Parallel Fund II
General Partner, LLC,
its general partner
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
TRIAN PARTNERS PARALLEL FUND II GP,
L.P.
By: Trian Partners Parallel Fund II
General Partner, LLC, its
general partner
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
TRIAN PARTNERS PARALLEL FUND II
GENERAL PARTNER, LLC
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
[Signature Page to Amendment No. 15 of Wendy's Schedule 13D]
TRIAN FUND MANAGEMENT, L.P.
By: Trian Fund Management GP, LLC,
its general partner
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
TRIAN FUND MANAGEMENT GP, LLC
By: /s/ Edward P. Garden
-------------------------------
Name: Edward P. Garden
Title: Member
[Signature Page to Amendment No. 15 of Wendy's Schedule 13D]
/s/ Nelson Peltz
-----------------------------
NELSON PELTZ
/s/ Peter W. May
-----------------------------
PETER W. MAY
/s/ Edward P. Garden
-----------------------------
EDWARD P. GARDEN
Dated: September 16, 2008
[Signature Page to Amendment No. 15 of Wendy's Schedule 13D]