Wendy's International (NYSE:WEN) has agreed to let a major shareholders have access to confidential financial information about the third-largest hamburger chain so he can decide whether or not to bid for the company, according to a Schedule 13D/A filing made today with the SEC.

Billionaire investor Nelson Peltz, who owns 9.8 percent of Wendy's, has been lobbying for a sale of the company to his own Triac which owns fast-food chain Arby's. In the past, he has indicated a willingness to pay between $37 and $41 per share in a deal worth $3.2 billion to $3.6 billion.

Wendy's agreed today to provide Peltz and Triarc with critical financial information that will enable them to evaluate a potential bid on the condition that they do not acquire any more shares in the company before December 1, 2007. Shares in the company moved up over 3 percent today on the news.

Shareholders - disappointed with the stalling share price recently - are hoping that the company can reach an agreement to be sold. Whether or not we will see an offer for the company remains to be seen, but this is definitely a stock to watch during the next few months!

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McDonald's Corporation (MCD)
Triarc Companies (TRY)
Rubio's Restaurants (RUBO)

A major Fleetwood Enterprises' (NYSE:FLE) shareholder asked the board to consider selling the company to rival RV and manufactured house maker Champion Enterprises (NYSE:CHB), according to a Schedule 13D/A filing made with the SEC yesterday.

SLS Management, which owns about 11.8 percent of the company, said in a letter to the board that the company has significant intrinsic value and has taken steps to unlock value but has remained unprofitable with a high cost structure.

SLS Managing Member Scott L. Swid argued that the best solution to unlock value would be a tax-free merger with rival Champion Enterprises, which would create $600 million - or about $3/share - in value for shareholders of both companies due to an "ideal overlap" of manufacturing facilities.

"The most uniquely compelling aspect of the combination of Fleetwood and Champion is their ideal overlap of manufacturing facilities," Swid wrote. "We believe the synergies and efficiencies of this combination would result in a combined annual savings of $60 million."

The activist hedge fund believes that the combined company could close 11 plants without exiting any market, which would result in significant cost savings and improved operating efficiency. Whether or not this transaction is consummated remains to be seen, but it is definitely a stock to watch!

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Problems with the mortgage and credit markets may have many individual investors worried but insiders appear confident in a turnaround. During the past eight weeks, insiders have been net sellers of a very low $300 million daily, according to their form 4 filings with the SEC. This number is down from a $470 million per day average since problems arose in July.

So, what stocks are insiders buying the most? The answer: banks and insurance companies. That's right - insiders are buying up the same stock that rest of the market is selling! In fact, not since 1995 have so many chief executives bought so many shares in their own companies as in this month. Many analysts see this as a strong buy signal and a clear indication that they are confident in a turnaround.

Among the biggest buyers were chief executives in companies like Wachovia (NYSE:WB), American Express (NYSE:AXP), CIT Group (NYSE:CIT), and American Capital Strategies (NDAQ:ACAS). Meanwhile, several mutual funds have increased their exposure in these same companies betting alongside insiders that shares will recover from their current extremely discounted levels.

In the end, the best opportunities are always present once blood is on the streets. The public is afraid, hedge funds have sold out, and now insiders are on the move buying up all the cheap shares. Opportunistic investors may now want to do the same while shares are still cheap...

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Wachovia (WB)
American Express (AXP)
CIT Group (CIT)