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Wednesday, November 20, 2013

BRIEF-NPC to purchase 54 units from Wendy's, (NASDAQ: WEN)

NPC International Inc : * Announces agreement to acquire 54 units from the Wendy's Company * Says deal valued at $31.3 million * Says acquisition will be funded entirely with available cash on hand * As part of agreement NPC plans to reimage certain acquired restaurants in Wendy's new image activation format * Also agreed to acquire one additional restaurant under development byWendy's, increasing number of restaurants to be acquired to 54 * As part of agreement, NPC plans to reimage certain acquired restaurants inWendy's new image activation format * Source text for Eikon * Further company coverage

The Wendy?s Company is a quick-service restaurant company in the hamburger sandwich segment. Shares of WEN fell by 2.13% or $-0.185/share to $8.50. In the past year, the shares have traded as low as $4.47 and as high as $9.51. On average, 7319140 shares of WEN exchange hands on a given day and today's volume is recorded at 7319889.