Wendy's Considers Selling Chain
Back in February a story about Wendy's (the third largest burger chain) was posted about closing its original location, opened by Dave Thomas himself in 1969. Now it seems as though the entire chain may be up for sale.
DUBLIN, Ohio - Wendy's International Inc. announced Wednesday that it has created a special committee of directors to consider a possible sale of the company, among other options. Wendy's shares surged more than 12 percent in after-hours trading.
The nation's third-largest hamburger chain said it does not intend to make periodic announcements regarding the strategic review, which it said could mean a possible sale, merger or other business combination. Wendy's will report developments as warranted, the company said.
"There is no specific timeframe to complete the review and there are no constraints on options to be explored by the committee," said James V. Pickett, board chairman, who will lead the committee of independent directors.
"A number of stakeholders have offered suggestions about strategies to improve performance and create additional value. The special committee will review strategic options while management continues to focus on executing Wendy's current strategic plan to revitalize the brand and improve results at every restaurant in the system."