From wire reports

Wendy's to buy back 69 franchised restaurants

Dublin, Ohio-based Wendy's, the nation's third-largest fast-food hamburger chain, is buying 69 franchise-owned restaurants in Orlando and Tampa, Fla., from two retiring operators.

The transaction, announced Tuesday, is expected to cost between $82 million and $87 million and close within 70 days.

"This is a great opportunity to manage a smooth transition with two Wendy's franchisees, Bob Stine and Ron Fay, who are retiring after nearly 30 years in the Wendy's business," Wendy's International chairman and chief executive officer Jack Schuessler said.

Some of the restaurants will be refranchised in the next two years, the company said.

Dana accuses UBS AG of conflict in lawsuit

Toledo auto-parts maker Dana Corp. has sued UBS AG, accusing the investment bank of a conflict of interest in a hostile $2.2 billion takeover bid by rival ArvinMeritor Inc.

The lawsuit, filed Monday in U.S. District Court in New York, says the bank was advising ArvinMeritor at the same time it had a business relationship with Dana.

Dana is asking for an injunction to prevent UBS from advising ArvinMeritor in connection to the bid. Dana also seeks an undisclosed amount in damages and wants UBS to return all information Dana gave to the bank.

"UBS undertook to assist ArvinMeritor in its hostile takeover effort without any disclosure to Dana and without Dana's knowledge or consent," the lawsuit says. "Rather, UBS acted secretly."

UBS said in a statement it had "a longstanding relationship with ArvinMeritor that commenced prior" to its business with Dana.

"We believe the lawsuit is without merit and intend to defend against it vigorously," UBS said.