Wendy's International Inc., the fast-food chain that put itself up for sale
last month, announced Tuesday that it had hired J.P. Morgan and Lehman
Brothers Inc. for advice on evaluating potential bids. However, a Bloomberg
story questions whether the company really wants to sell itself. The suspicion
stems from the fact that the committee reviewing strategic options does not
include the three Nelson Peltz-nominated directors. Without the trio, the
independence of the committee is put into question, Institutional Shareholder
Services Inc. vice president Patrick McGurn told Bloomberg. Peltz's Arby's
Restaurant Group Inc. is rumored to be interested in Wendy's. —Matthew
Wurtzel
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story from Bloomberg via The Boston Globe
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previous story from TheDeal.com
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auction profile from Auction Block (subscription required)
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