Thursday, April 26, 2007

Who Wants to Take Out Wendy’s?

Wendy's International, the No. 3 hamburger chain in the United States, said it formed a special committee of directors to review options that could include a possible sale of the company. Under pressure from activist investor Nelson Peltz, Wendy's recently spun off its Tim Hortons chain of coffee shops and agreed to sell its Baja Fresh restaurant business. Some industry analysts said Wendy's could be an ideal turnaround candidate for private equity firms, but others suggested that its relatively high stock price could deter potential buyers. The news pushed Wendy's stock up 12.6 percent to $36.80, above its 52-week high, in after-hours trading on Wednesday.
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