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Friday, October 15, 2010

Wendy's Arby's Group Higher on Takeover Chatter

Shares of Wendy's Arby's Group were up more than 8% at one point in trading Thursday on renewed rumors and chatter that the company could be a takeover target. When asked, Andy Kibbens (Co-CEO of "The Markets Are Open") said "I like Wendy's but I think money could be better put to work elsewhere. The market is doing a rip your face off rally and Wendy's has been nothing but a dissapointment".

Wendy's Arby's Group is the parent company of its wholly owned subsidiary holding company, Wendy's/Arby's Restaurants.