Newspaper wrap-up: Wendy's and Nelson Peltz to today unveil deal
Posted Apr 24th 2008 7:50AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Citigroup Inc. (C), Clear Channel Commun (CCU)
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MAJOR PAPERS:
- Wendy's International Inc (NYSE: WEN), struggling since the 2002 death of founder Dave Thomas, and pressed by investor Nelson Peltz to improve results, will today announce a deal with Peltz, the Wall Street Journal reported.
- The Wall Street Journal also reported that the House Financial Services Committee voted to approve $15B in loans and grants so that local governments can buy foreclosed homes throughout the U.S. Committee chairman Barney Frank said the bill will avoid abuse, including requiring that purchased homes be a minimum 60 days into the process.
- Adding to evidence of a rally in corporate credit markets, the Financial Times reported that Deutsche Bank AG (NYSE: DB) is preparing another big sell-off of its leveraged loans in Europe.
OTHER PAPERS:
- Several e-mails that have been obtained by the New York Post sent between Wall Street banks may prove a serious setback in the fight over the takeover Clear Channel Communications Inc (NYSE: CCU). The e-mails reportedly show the banks, led by Citigroup Incorporated (NYSE: C) and Deutsche Bank, looking to get out of financing the buyout by Bain Capital and THL Partners by offering terms "they know the [firms] won't be able to accept."
Tags: bain capital, BainCapital, C, CCU, citigroup, citigroup inc., citigroup inc. c, CitigroupInc., CitigroupInc.C, clear channel, clear channel buyout, clear channel commun..., ClearChannel, ClearChannelBuyout, ClearChannelCommun..., DB, Deutsche Bank, DeutscheBank, house financial serv..., HouseFinancialServ..., leveraged loans, LeveragedLoans, Nelson Peltz, NelsonPeltz, THL Partners, ThlPartners, WEN, wendys, wendys international, wendysinternational
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