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TW Exploring Alternatives: TW Services Inc. said...

TW Exploring Alternatives: TW Services Inc. said it will explore alternatives to Coniston Partners’ unwanted $1.4-billion takeover bid, a move that could include the sale of the food services and restaurant giant. The aggressive New York investment firm, which has been pursuing TW since the fall with a $29-a-share tender offer, welcomed the TW board’s decision and indicated that it might increase its offer. TW directors authorized financial advisers First Boston Corp. and Merrill Lynch Capital Markets to seek “transactions that reflect . . . our strong forward momentum.” TW owns the 1,200-restaurant Denny’s chain and runs more than 400 Hardee’s restaurants.


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