Follow-up on July 17 posting....Billionaire investor and Arby’s owner Nelson Peltz already owns 9.8% of Wendy’s, the nation's third-largest hamburger chain, and holds three seats on Wendy’s board. With that influence, he has successfully pressured the competing chain to make significant strategic changes, including spinning off its Tim Hortons coffee-and-doughnut chain and selling its money-losing Baja Fresh Mexican Grill. Now he is, according to this article, offering $37 to $41 per share to buy the company outright. Peltz filed his offer letter to Wendy's Chairman James Pickett with the Securities and Exchange Commission earlier this week.
Posted by franchiselawblog at August 6, 2007 12:25 PM