Wendy's now officially on 99 cent value menu

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Wendy's is officially exploring a potential sale, with no buyer, no timetable and no rules (and this time, it's personal). This is the groundbreaking resolution of Wendy's secret strategic review committee, which issues decrees about as meaningful as the "color" of terror on any given day. Before, the company was only exploring strategic options, but now, one of these options is officially a sale of the company (Terror Level = Delicious). The semantic shuffling is partly in response to the "suggestions" of Highfield Capital Management, Wendy's largest institutional shareholder with a 8.5% stake in the company. Highfield sent a letter to Wendy's board last month urging the company to put itself up for sale and criticizing the super secret strategic review committee.
Wendy's to Explore Sale, Cuts 2007 Earnings Outlook [Wall Street Journal]

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