Briefs: Franchise owner eyes Wendy's chain

COLUMBUS, Ohio -- The owner of 134 Wendy's restaurants wants to make a bid for the nation's No. 3 hamburger chain with two private-equity firms. David Karam, president of Cedar Enterprises, said Wednesday he and his partners have been invited by Wendy's International to a second round of talks. He is backed by Kelso & Co. and Oak Hill Capital Partners.

Children's Place fires CEO

NEW YORK -- Children's Place Retail Stores Wednesday fired Chief Executive Ezra Dabah and named board member Chuck Crovitz as interim CEO. The children's clothing retailer said an investigation found Dabah did not comply with its securities-trading policies. The internal probe also found irregularities in expense reimbursement practices from its chief creative officer, the company said. Dabah did not properly report an immaterial increase in his wife's ownership of company shares from a trust distribution, and on two occasions, pledged shares during a "black-out period" without required prior approval, the company said.

Sallie Mae buyers want new deal

WASHINGTON -- The planned $25 billion buyout of student lender Sallie Mae was thrown into jeopardy Wednesday after the investors said the terms of the deal were no longer acceptable. Sallie Mae vowed to pursue legal remedies against the group. The investors, led by private-equity firm J.C. Flowers & Co., told Sallie Mae they do not plan to complete the $60-a-share deal negotiated earlier this year, though they are open to discussing new terms.

Bidding war rages over exchange

STOCKHOLM, Sweden -- Nasdaq and Borse Dubai said Wednesday they raised their bid for Sweden's OMX exchange by 15 percent to $4.9 billion and entered agreements with key shareholders to secure nearly half of OMX shares. They also lowered the minimum acceptance level for the offer to 50 percent from 90 percent, making it harder for Qatar Investment Authority, a major shareholder, to block the takeover.