Wendy's (NYSE: WEN) handling of its review of strategic alternatives has been very strange from a PR perspective. Back in June, the company earned a place on TheStreet.com's "5 Dumbest Things on Wall Street" for its slew of press releases announcing that the company was for sale: "Under its latest effort to win over Wall Street, the company has taken to announcing once a month that it's up for sale."

With its stock down about 40%, no buyer has yet emerged for the company. Today Wendy's announced that the "Special Committee of its Board of Directors, which is reviewing the Company's strategic options, believes that it is in the final stages of its review process."

That's right: a press release saying nothing except that they're almost done with their review -- What does that even mean? 2 more days? 2 more months? They don't say but they caution investors that "there is no assurance that the process will result in any changes to the Company's current plans or when a specific announcement may be made."

The press release added: "The review process being undertaken by the Special Committee has taken longer than anticipated, primarily due to the continuing turmoil in the financial markets."

What goes unsaid is that the stock's sharp decline in value would seemingly make it more attractive as an acquisition.

But with the stock down more than 7% today, it doesn't look like investors are betting on that.