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COLUMBUS, Ohio (AP) - Wendy's International Inc. is exploring a possible sale of the company, the nation's third-largest hamburger chain said Monday, as it warned that profits for the year would fall short of Wall Street expectations.
"While a sale remains only one of the alternatives under consideration, we believe it merits more thorough examination," James V. Pickett, Wendy's chairman and head of special committee doing the study, said in a statement.
The company, under pressure from shareholders, formed a committee in April to determine how to boost its stock price, including a possible sale. JP Morgan, as lead adviser, and Lehman Brothers Inc., as co-adviser, will conduct a review in conjunction with the committee.
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