Not sure why the complaints about this deal…shareholders are getting a significant premium over current market value, and on a stock that hasn’t performed otherwise in quite a while. Its also worth noting that the board did the right thing–this deal was by far the richest one on the table among several competing offers, and they did right by their shareholders by taking it.
If you don’t like the food/service at Wendy’s, then you should be happy with a management change–the primary purpose of an operations-focused buyout is to improve operations and product, and thus hopefully win back patrons.
As for the comment that Wendy’s is going away, that’s very unlikely. This offer represents a significant premium over book value, meaning the buyer is after the brand as much anything. So the last thing they are likely to do is do away with the Wendy’s concept.
I feel sorry for Dave Thomas’ family as much as anyone–he was a true gentleman. But his successors didn’t perform and in the world of public companies, you hit the numbers or you go home.