Friendly Ice Cream annual meeting postponed

By Lisa Kerner

Charlotte, N.C., May 3 - The Friendly Ice Cream Corp. postponed its shareholder meeting originally proposed to be scheduled for May 9 as the company continues it review of strategic alternatives. No new meeting date has been set, according to a company news release.

On March 7, the company announced it would explore alternatives, including a possible sale of the company, to enhance shareholder value.

The Wilbraham, Mass.-based restaurant company retained Goldman Sachs & Co., as financial adviser, and Weil, Gotshal & Manges LLP, as legal adviser, to assist its board in the exploration process.

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