News Summary

Shares of Wendy's/Arby's Group Inc (NYSE: WEN) gained about 4% after the company announced its plans to sell Arby's Restaurant Group Inc to private equity firm Roark Capital Group for $430 million. Wendy's/Arby's will retain an 18.5% interest in Arby's Restaurant. The deal is likely to close in the third quarter.

Shares of Ness Technologies Inc (NASDAQ: NSTC) advanced around 13.7% after NSTC agreed to be purchased by an affiliate of Citigroup Inc's (NYSE: C) venture capital arm for $307 million in cash. Under the deal, the shareholders of Ness will receive $7.75 per share for each share they own, representing a 17.6% premium over their closing stock price on Thursday. The sale is likely to close in the next three to six months.

Shares of Transatlantic Holdings (NYSE: TRH) gained about 12.6% after Allied World Assurance Co Holdings (NYSE: AWH) agreed to buy TRH for $3.2 billion in stock. Transatlantic shareholders will receive 0.88 AWH shares each, or $51.10 per share, representing a 16.1% premium over TRH's closing price on Friday.

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