New York, May 22 - Shares of Wendy's International Inc could be worth more than $50 apiece based on the potential value of the company's assets and the benefits from its selling itself to Triarc Cos Inc, investor William Ackman said in a presentation to investors.
Ackman, who runs Pershing Square Capital, owned 7.1 million Wendy's shares as of mid-May.
Wendy's has the opportunity to improve the performance of the restaurants it owns, could grow internationally, and could make more money by selling breakfast, Ackman said in a presentation on Wednesday afternoon at the Ira W. Sohn Investment Research Conference.