Where's the beef? It is now in Atlanta. Wendy's, which was founded and based in Ohio, has been acquired by the parent company of Arby's. The Atlanta based chain had been trying to obtain control of the Dublin, Ohio, based chain for over a year. $2.34 billion of Triarc Companies Inc was the number that Wendy's board agreed to today.

Pam Thomas Farber, the daughter of founder Dave Thomas whose passing seemed to have doomed the 3rd largest hamburger chains fortunes, expressed her displeasure with the takeover by Triarc Companies Inc.

"It's a very sad day for Wendy's, and our family. We just didn't think this would be the outcome"

Wendy's stock price has plummeted over the year and billionaire Nelson Peltz, who is the largest shareholder of Triarc, has made it his goal to takeover the weakened company. Following a poor quarter he finally won over the board who agreed to $26.78 for the company who had traded over $40 a share just a year ago.

Layoffs are expected at Wendy's headquarters but, for now, the chain will be based out central Ohio. Peltz is said to want to combine some restaurants to dual Wendy's/Arby's where real estate prices are too high for competing restaurants.