Wendy’s ready to sell more shares of Tim Horton’s
June 28, 2006 – 3:32 pmIf you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Tim Horton’s is an extremely popular restaurant chain run by Wendy’s, with locations primarily in Canada. Wendy’s now plans to sell the remaining 160 million shares they own of Tim Horton’s (THI).
The shares represent an ownership stake of nearly 83% in Tim Hortons. In March, Tim Hortons issued 17.25% of its shares in an initial public offering. Wendy’s is targeting Oct. 1 as the date to complete the spinoff.
Wendy’s is facing the same moribund environment as the other fast food chains. Increased competition has forced them to cut costs and look for liquidity. Wendy’s is suffering from lower than expected sales from their Wendy’s chain and “Baja Fresh” restaurants.
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