Wendy's (NYSE:WEN) May Put Arby's Up For Sale

The market liked the announcement by Wendy's (NYSE:WEN) that they may be putting Arby's up for sale.

While saying they're exploring strategic alternatives, after the reasoning given by chairman Nelson Peltz, the only course of action would be to sell Arby's.

Peltz said, “We believe the way to maximize shareholder value is to focus all of our management and financial resources on continuing to build the Wendy’s brand. Arby’s is a good business, and we are making progress improving its performance, as evidenced by the 3.1% increase in company-operated same-store sales in the fourth quarter of 2010."

Roland Smith, President and Chief Executive Officer of Wendy’s/Arby’s, added, "A pure-play Wendy's will enable us to focus all of our energies on growing the Wendy’s brand via new store growth both in North America and international markets, and with accelerated same-store sales through the introduction of new dayparts and core menu innovation."

Wendy's/Arby's Group was trading at $4.83, gaining $0.36, or 8.05 percent, as of 11:41 AM EST.