Wendy's is looking for buyers as the hamburger chain's earnings and market share plummet. Aggressive competition from McDonald's and Burger King as well as soaring beef and dairy prices have taken a big bite out of Wendy's bottom line, the Wall Street Journal reports.
It's not a great time to sell hamburgers—or fast food chains. Applebee's is looking for a buyer and Outback has just been bought by two private equity firms; this is the third time Wendy's has floated the idea of a sale. One possibility is that billionaire Nelson Peltz, who already has a significant holding, could attempt to take the company private. Peltz's Triarc Co. owns Arby's.