Fast food restaurant Wendy's has been sold for a reported $2.34 billion. The number three burger chain will now be a part of Triarc, which owns Arby's.

• Can Triarc Save Wendy's?: Talk About It
• Mr. Wendy Out: Ad Campaign Change
• Wendy's Axes Another Campaign: Red Wig Yanked

Triarc is owned by Nelson Peltz, who has helped turn around companies like Heinz and Snapple. Wendy's has been having problems since the death of founder Dave Thomas in 2002. The chain experienced a turnover on ad campaigns like Mr. Wendy and the Red Wig commercials.

The family of Dave Thomas opposes the all-stock deal and wanted Wendy's franchisee David Karam to take over the company. Daughter Pam Thomas Farber says the Triarc deal is devastating news.

Can Triarc save Wendy's? Talk about it.