Wendy's Bids to Buy Its Largest Bankrupt Franchisee
Wendy's (NASDAQ: WEN) wants to block the acquisition of a bankrupt franchisee's restaurants by a competing bidder, so together with a group of other franchisees, the burger joint submitted its own offer on Wednesday.
Should its bid be successful, Wendy's says the franchisees in the consortium will own most of the restaurants and it will retain at most just two markets.
Image source: Wendy's.
Source Fool.com
