DUBLIN Ohio California Pizza Kitchen investor Farallon Capital Management LLC and its affiliates have amassed a 6.2-percent stake in Wendy’s International Inc., according to securities filings.
The documents indicate that the San Francisco-based hedge fund and its affiliates paid a total of $176.6 million for the 5.4 million shares.
Farallon and its affiliates said in a filing made Wednesday with the Securities and Exchange Commission that the purchases "were not made for the purpose of acquiring control of the company." However, they also said in the filing that they did reserve the right to talk to other shareholders and Wendy's management about the company's operations and "any potential strategic transactions involving the company."
Wendy’s began a review in April 2007 of a sale, refinancing or other strategic alternatives. The company, based here, said earlier this year that the review process was nearing completion.
Investor Nelson Peltz, who holds a 9.8-percent stake in Wendy’s through his various investment companies, has made a bid of an undisclosed amount for the company, which operates or franchises about 6,600 restaurants.
As of late December, Farallon owned about 7.3 percent of outstanding shares in California Pizza Kitchen, an operator or licensor of about 220 restaurants.