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Wendy's Says It Will Consider A Sale

MSNBC/AP, Thursday, April 26, 2007 1:45 PM

Wendy's International--the nation's third-largest hamburger chain--has created a special committee of directors to consider a possible sale of the company, merger or other business combination. There is no timetable to the review, and the company will report developments as warranted, it says.

Wendy's also reported yesterday that net profit fell 71% in its first quarter. It earned $14.7 million, or 15 cents per share, in the period ended April 1, down from $51.2 million, or 45 cents per share, in the same period a year ago, when the company had 15 additional restaurants. Revenue was $590 million, up 2% from $579 million a year ago.

Billionaire investor Nelson Peltz's Trian Partners--which has pushed Wendy's to make changes--received three seats on the board last year.

Read the whole story at MSNBC/AP »

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