Wendy's CFO Mum on Takeover Talk
Wendy's Shares Edge Lower As CFO Is Silent on Takeover Speculation; Piper Cuts Rating
Wendy's International Inc. shares closed down 2.3 percent on Monday after Wendy's chief financial officer failed to address speculation that a major investor might be engineering a leveraged buyout of the nation's third-largest hamburger chain.
CFO Kerrii Anderson presented a review of the company's business during a presentation this morning at a Credit Suisse First Boston conference in New York. There was no talk about shareholder Pershing Square Capital Management LP's hiring of financial adviser Blackstone Group LP to explore "strategic alternatives" to increase Wendy's value.
Shares of Wendy's fell $1.12, or 2.3 percent, to close at $46.78 on the New York Stock Exchange. The stock, which trades in a 52-week range of $31.74 to $48.35, is up about 19 percent so far this year.
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Source - AP
CFO Kerrii Anderson presented a review of the company's business during a presentation this morning at a Credit Suisse First Boston conference in New York. There was no talk about shareholder Pershing Square Capital Management LP's hiring of financial adviser Blackstone Group LP to explore "strategic alternatives" to increase Wendy's value.
Shares of Wendy's fell $1.12, or 2.3 percent, to close at $46.78 on the New York Stock Exchange. The stock, which trades in a 52-week range of $31.74 to $48.35, is up about 19 percent so far this year.
External Source - For the complete article click here
Source - AP
