Wendy's (WEN) PT Raised to $19 at BofA/Merrill Lynch Following Inspire Brands Sale Agreement
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Wendy's (WEN) PT Raised to $21 at Mizuho Securities on Inspire Stake Sale, Buyback
August 16, 2018 12:44 PM EDTMizuho Securities analyst Jeremy Scott raised the price target on Wendy's (NASDAQ: WEN) to $21.00 (from $20.00) while maintaining a Buy rating after the company announced the sale of its 12.3% stake in Inspire Brands back to the company for $450 million.
Scott notes the proceeds imply a... More
Wendy's (WEN) Announces Sale of Ownership Interest in Inspire Brands for $450 Million, Approves $100 Million Buyback
August 16, 2018 9:16 AM EDTThe 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.
"The sale of our stake in Inspire Brands for $450 million is a great return on this investment for... More
