Wendy's on Block as Stale Sales Sink Earnings

High beef prices, tough competition take toll
By Peter Fearon,  Newser Staff
Posted Jun 19, 2007 5:29 AM CDT
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(Newser) – 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.