Wendy's International Inc. has agreed to let a major shareholder have access to crucial information about the third-largest hamburger chain so he can decide whether to bid for the company.
Billionaire investor Nelson Peltz has said his company, Triarc Cos. (NYSE: TRY) which owns fast-food chain Arby's, would be a natural buyer for Wendy's (NYSE: WEN). He said last month that he was ready to offer $37 to $41 per share in a deal that would peg Wendy's total value between $3.2 billion and $3.6 billion.
