Wendy's International (NYSE:WEN) shares are up marginally today despite news that its pending sale process may be in jeopardy due to continued turmoil in the credit markets, according to an article in the New York Times. Buyers are reportedly concerned that any financing provided by major banks would be highly conditional and include several clauses that buyers may find unattractive.

The banks financing the deal sent term sheets to prospective buyers two weeks ago but have not yet made any formal commitments. One of the largest problems with the deal is a reported loophole that would allow banks to withdraw the financing if the credit markets deteriorate. Consequently, Wendy's said it may attempt to line up additional banks for its financing efforts.

Bids are due at 5pm EST today but some are predicting that the Wendy's sale may be forced on hold until the credit markets improve, which could be six months or longer. This may anger activist investor Nelson Peltz who had not only been hoping to purchase the company but is also one of its largest shareholders. In the end, this stock is definitely one worth watching!

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