Wendy's: Review process hampered by market conditions

By Lisa Kerner

Charlotte, N.C., Jan. 28 - The special committee of Wendy's International, Inc.'s board of directors said it believes its strategic review process is in the final stages.

"The review process being undertaken by the special committee has taken longer than anticipated, primarily due to the continuing turmoil in the financial markets," chairman of the board and the special committee James V. Pickett said in a company news release.

There is no assurance that the review process will result in any changes to Wendy's current plans or when a specific announcement may be made, the release stated.

On April 25, 2007, Wendy's announced it would review options including a revision to its strategic plan and changes to the capital structure. Wendy's said in June 2007 it was considering a sale of the company.

In November, Triarc Cos., Inc. submitted a proposal to purchase 100% of Wendy's equity; however, the bid was below the valuation range of $37 to $41 per share the investor had originally intended to offer.

Wendy's is a Dublin, Ohio-based quick service restaurant chain.

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