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Wendy's to explore strategic alternatives that could include sale
By Lisa Kerner
Charlotte, N.C., April 25 - The board of directors of Wendy's International, Inc. formed a special committee to review the company's strategic options, which could include a revision to its strategic plan, changes to the capital structure or a possible sale or merger of the company.
"There is no specific timeframe to complete the review and there are no constraints on options to be explored by the committee. A number of stakeholders have offered suggestions about strategies to improve performance and create additional value," board chairman and head of the special committee James V. Pickett said in a company news release.
Wendy's completed the spin off of Tim Hortons in the third quarter of 2006 and completed the sale of Baja Fresh Mexican Grill during the fourth quarter of 2006. During the fourth quarter of 2006, the Dublin, Ohio-based quick service restaurant chain also approved the prospective sale of Cafe Express.
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