Wendy's (WEN) PT Raised to $19 at BofA/Merrill Lynch Following Inspire Brands Sale Agreement
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The Wendy's Company Sells Ownership Interest in Inspire Brands for $450 Million
August 16, 2018 9:15 AM EDTDUBLIN, Ohio, Aug. 16, 2018 /PRNewswire/ -- The Wendy's Company (NASDAQ: WEN) announced today that it has accepted an offer from Inspire Brands (Owner of Arby's®, Buffalo Wild Wings®, and R Taco®) to sell its 12.3% ownership interest in the company back to Inspire Brands for $450 million. The agreement was approved by The Wendy's Company Board of Directors and represents a 38% premium on the Wendy's Company's previous valuation of the investment.
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