Skip to comments.Wendy's Purchase Talks Stuck At Crawl
Posted on 08/10/2007 10:31:48 AM PDT by buccaneer81
Wendy's purchase talks stuck at crawl Friday, August 10, 2007 3:25 AM By Monique Curet THE COLUMBUS DISPATCH Wendy's International Inc. remains in talks with a potential buyer more than a week after a deadline passed for resolving issues related to the sale process.
Neither the company nor the suitor, investor Nelson Peltz's Triarc Cos., is saying much.
But if Wendy's is taking a hard stance during the negotiations, it suggests that the company "has sufficient interest from someone else," one observer said.
No one is saying who that might be.
Peltz, who owns Arby's and controls nearly 10 percent of Wendy's stock, said on July 30 that Triarc is prepared to make a bid for Wendy's. But the two parties haven't been able to broker a confidentiality agreement, which typically is signed before a company allows a potential buyer to review sensitive information about the business.
Peltz set Aug. 1 as the deadline for Wendy's to respond to his proposed version of the agreement. As of yesterday, the companies were still in discussions, a Triarc spokeswoman said.
Wendy's, which created a special committee to review its options, stuck with the statement it has issued throughout the process. The company said the special committee will make announcements when it thinks it is appropriate.
Wendy's first proposed a confidentiality agreement on June 22, according to Peltz's letter to the company.
When an activist investor is considering a bid for a company, it usually takes a few weeks to reach an agreement, said Randy Lampert, managing director of the activist-response group at Morgan Joseph, an investment-banking firm.
The fact that negotiations over the confidentiality agreement are taking longer than is typical could indicate that Wendy's "believes they have other alternatives (to Peltz) in maximizing shareholder value," Lampert said.
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Wendy’s fries are better than McD’s. I would go get some right now but I’m stuck waiting for the fed ex guy.
Try the Baconator. Your arteries will harden just looking at it.
WHERE’s THE BEEF?!?!?!?!?!.....
My dog won’t eat McD fries, but BK and Wendy’s pass the smell test.........for him anyway......
I’ve been on a homestyle chicken sandwich binge for a few weeks now. mmmmmm. I wish they still had chicken strips though. Nuggest are gnarly.
Yer dog can have BK. Me no likey.
Better fries, burgers, sides and dollar menu.
McDonald's best menu item is the new snack wrap.
My only fast food that we eat regularly is Arby’s and Captain D’s...... Wendy’s, BK, and McD are definitely last resorts.... in that order..........
Heh, re, you tagline...
My kids were watching Soylent Green...remember the scene where the big shovel slams down and smashes that person? My youngest son gasped and said “Is that BLOOD???” My oldest son calmly replied “No, it’s Soylent Grease.”
Heh heh heh!
Yeah, the “scoops.” LOL. Hilarious. Soylent Grease. That’s a good one!
I knew you must be down south somewhere. We’ve got an Arby’s nearby, but they are rare here in NJ. I haven’t seen a Captain D’s since I lived in Alabama. But they have sitdown service, too, don’t they? Used to love them hush puppies when I was a youngster.
Sitdown service in a way. You wait in line, order your food, find a table while gathering you condiments and drinks, wait till your number is called, sit down and eat.........
BWAAHAHAHAHAAA!!! I gotta remember that.
Their food all around is better. I love their double cheesburgers except they only come with one slice of cheese so I always special order a second slice and pay an extra $0.30.
C'mon guys! It is a DOUBLE CHEESEburger fer cryin' out loud! Don't skimp on the cheese!
I happened to eat a few times at Burger King’s flagship restaurant near their corporate HQ in Miami. A great experience, as all of the employees were courteous, spiffily dressed retirees who cooked and cleaned and served with huge smiles. The place was just perfection.
ALL fast food restaurants could and should be that great. But the further they get from the Big Boss, the less likely they will be. I never ate in Wendy’s though I sure liked Dave Thomas’s style as an entrepreneurial, charitable human being.
I’m not an Arby’s fan, but we only have just the one, so I can’t really say. Their thing is roast beef.
My 11-year-old grandson recently announced that Arby’s has the best roast beef sandwich he ever ate. Try it with the “horsey” sauce.