Shares of Wendy’s International fell 2% Wednesday after only one bidder emerged a day after the company’s auction deadline with a lower-than-expected offer for the company.
Another group expected to bid for the company, led by Fidelity National Inc. Chairman William Foley, reportedly decided against submitting a bid for Wendy’s.Top Wendy’s investor Nelson Peltz’s Triarc Cos. said late Tuesday it submitted a bid to acquire the fast-food chain. Triarc didn’t disclose the amount of its new offer but the Arby’s restaurant franchiser said it was below the $37 to $41 a share Triarc previously said it would be prepared to offer for Wendy’s.
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