Associated Press | Wendy’s/Arby’s Group Inc. Chairman Nelson Peltz says he has been approached by an unnamed group interested in possibly acquiring the restaurant company and is looking into it. Wendy’s/Arby’s shares climbed 11 percent to $4.82 in premarket trading.
Peltz, whose investment firm owns 23.5 percent of the Atlanta company’s shares, gave few details about the oral inquiry which he disclosed in a regulatory filing late Thursday.
But he says the possible deal could include his participation and that he would work with financial advisers to discuss the transaction.
Peltz led Arby’s former parent Triarc Cos., which acquired Wendy’s in 2008.
The fast food chain did not immediately comment Friday. It has struggled during the recession.
maybe the new buyer will bring back the homestyle fries to Arbys – they made a huge mistake when the lobbed those out the door in favor of the curly no-taste crap that they have now.
When I feel like an Arbys now I go buy a sandwich & then go across the street for the fries & Mr Pibb @ Wendys but most of the time they lose my business entirely just because I don’t want the hassle of doing that.
TO Kathy Michael – I totally hear you on that comment! Arby’s was my favorite fast-food chain and I very seldom to to Arby’s now, because I can’t stand their curly fries. I actually liked when Arby’s had backed potatoes rather than fries, but I would settle for their homestyle fries as the curly fries are disgusting.
I think Wendy’s has a great menu. Arby’s seems to have lost its way. Wendy’s, especially, needs a strong breakfast/coffee menu which they do not have. Arby’s also seems to have a lot of older, poorly located or updated stores. Either way, I still go to both.
I used to like Wendy’s but they have failed to invest in their stores.
McDonalds seems to knwo that the population is looking for a nice place to eat. Wendy’s still has plenty to learn.