Wendy's Hires Advisors To Explore Sale
The Special Committee of its Board of Directors of Dublin, Ohio-based Wendy's made the announcement yesterday, but set no timetable for the process.
"The Special Committee has determined that the exploration of a sale is the appropriate next step in the investigation of value-creating alternatives for our stakeholders," said James V. Pickett, Chairman of the Board and the Special Committee, in a release.
"While a sale remains only one of the alternatives under consideration, we believe it merits more thorough examination."
JP Morgan, as lead advisor, and Lehman Brothers Inc., as co-advisor, will conduct the sale exploration process in conjunction with the Special Committee.