Deerfield Triarc considering options following termination of merger agreement

By Lisa Kerner

Charlotte, N.C., Oct. 22 - Deerfield Triarc Capital Corp. and Triarc Cos., Inc. are "continuing to explore" revised terms and conditions of Deerfield Triarc's previously announced acquisition of Deerfield & Co. LLC from Triarc.

The April 19 merger agreement was mutually terminated on Oct. 19.

It was previously reported in August that Deerfield Triarc had been unable to complete its financing on acceptable terms due to credit market instability. Deerfield Triarc shareholders had approved the issuance of some 9.6 million shares in consideration for the company's acquisition of Deerfield & Co. from Triarc. The transaction was valued at some $290 million.

Triarc is a holding company and, through its subsidiaries, is the franchisor of the Arby's restaurant system. It owns a controlling interest in Deerfield & Co., a Chicago-based fixed income asset manager.

Deerfield Triarc is a diversified financial company formed to invest in real estate-related securities and other asset classes.

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