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The Wendy's Company Closes $275 Million Modified "Dutch Auction" Tender Offer
- Client News
- February 19, 2014
Practices
The Wendy's Company (NASDAQ:WEN) closed a modified "Dutch auction" tender offer to repurchase shares of its common stock for an aggregate purchase price of $275 million. Wendy's accepted for purchase approximately 29.7 million shares at a purchase price of $9.25 per share, which represented approximately 7.5 percent of the total number of shares outstanding. The dealer manager for the tender offer was Wells Fargo Securities, LLC.
The Paul, Weiss team included corporate partners John Kennedy and Jeffrey Marell; and tax partner Jeffrey Samuels and counsel Alyssa Wolpin.