September 27, 2007 |
The owner of 134 Wendy's restaurants wants to bid for the nation's No. 3 hamburger chain with two private equity firms. David Karam, president of Cedar Enterprises Inc., said Wednesday that he and his partners had been invited by Wendy's International Inc. to a second round of talks. He is backed by Kelso & Co. and Oak Hill Capital Partners. "I've been involved in the brand," he said. "I see the great potential of it."
August 29, 2007 |
Wendy's International Inc. has agreed to let a major shareholder have access to crucial information about the third-largest hamburger chain so he can decide whether to bid for the company, according to a filing Tuesday with federal regulators. Billionaire investor Nelson Peltz has said his company, Triarc Cos., which owns fast-food chain Arby's, would be a natural buyer for Wendy's. He said last month that he was ready to offer $37 to $41 a share in a deal that would peg Wendy's value at $3.
July 31, 2007 |
Billionaire investor Nelson Peltz said Monday that he might pay as much as $3.6 billion for Wendy's International Inc. In a letter to Wendy's Chairman James V. Pickett, Peltz said his Trian Fund Management would consider paying as much as $41 a share for the chain of hamburger restaurants, according to a filing with the Securities and Exchange Commission. Peltz gave Wendy's until Wednesday to sign a confidentiality agreement. The filing came after the markets closed.
July 4, 2007 |
Billionaire investor and major Wendy's International Inc. shareholder Nelson Peltz said Tuesday that his restaurant company, Arby's parent Triarc Cos., would be a natural buyer for the struggling Wendy's hamburger chain. However, in a letter to Wendy's Chairman James V. Pickett, Peltz said he objected to a so-called standstill clause that would prevent Triarc from launching a hostile takeover bid if the companies did not reach a mutual merger agreement.
June 19, 2007 |
Wendy's International Inc. is exploring a possible sale of the company, the nation's third-largest hamburger chain said Monday as it warned that profit for the year would fall short of Wall Street's expectations. "While a sale remains only one of the alternatives under consideration, we believe it merits more thorough examination," James V. Pickett, Wendy's chairman and head of a special committee doing the study, said in a statement.
April 26, 2007 |
Wendy's International Inc., which underwent jarring structural changes in the last 12 months, announced Wednesday that more might be in the offing -- including the possible sale of the company. Its shares rose 13% in after-hours trading to $37. The nation's No. 3 hamburger chain, based in Dublin, Ohio, said it had formed a committee of directors to review options that could include a sale, a merger or some other business combination.