The Wendy's/Arby's Group Chairman said he's reviewing an overture from an unnamed group interested in acquiring the fast-food company. The disclosure sent shares up 31 cents, or 7.1%, to $4.65 Friday. There are few details about the inquiry, but the deal could include his participation and he said that he would work with financial advisers to discuss the transaction.
Wendy's/Arby's Group has struggled during the recession as customers cut back on fast food. Arby's, since it had a pricier menu, was especially hurt, despite offering value meals and other discounts.
Tags Arby's shares takeover Wendy'sRelated Posts
- Americans Are Mad About Sale of Budweiser
- Wall Street Bonuses to Rise This Year
- Lower electric bills as temperatures rise
- The Stock Market Scam – Stock Options
- Yahoo Finance Adds FREE Real Time Stock Quotes