Shareholder May Seek Wendy’s Restructuring
From Reuters
A New York investment partnership that acquired a 9.3% stake in Wendy’s International Inc. said it might suggest restructuring proposals to increase shareholder value at the No. 3 U.S. burger chain.
William Ackman, who manages Pershing Square Capital Management, said in a filing with the Securities and Exchange Commission that the group might propose that Wendy’s spin off a division or sell certain assets.
Ackman said the group might also propose that Wendy’s start re-franchising or initiate a restructuring that could include a conversion to a real estate investment trust.
