Wendy’s/Arby’s Group Inc. plans to slice away the Arby’s sandwich chain by putting it up for sale, people familiar with the matter said.

The move represents a concession by activist investor Nelson Peltz that Arby’s, known for its roast beef sandwiches, is having trouble competing in an industry where the only viable ways to grow are to steal market share from rivals or expand overseas-two things Wendy’s is better positioned than Arby’s to accomplish. Get the full story »