Thursday, April 26, 2007
In a sign that its turn-around plan is not working, Wendy's announced that a special committee of the board of directors will investigate options for the company, including a sale or a leveraged recapitalization. Investor Nelson Peltz, who has three seats on the board, announced last week that he's looking for more restaurant companies. His "stand-still" agreement with Wendy's expires in June. See WSJ, Wendy's Considers Possible Sale.