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Exclusive: Whataburger confirms hiring Morgan Stanley to explore sale

Ryan Salchert
Exclusive: Whataburger confirms hiring Morgan Stanley to explore sale

Whataburger has hired multinational investment bank and financial services company Morgan Stanley (NYSE: MS) to help explore a possible sale, the company confirmed Thursday. In a written statement, Whataburger's corporate communications team told the Business Journal, “Our company is growing and is always attractive to investors, and we’ve brought in Morgan Stanley to help us explore our options. We have always evaluated the opportunities that can accelerate growth and maintain the success of our brand, and we will continue to do so in the future.” Word of a possible sale was reported May 6 by Reuters, which was told by an anonymous source that the locally based fast food chain was considering a sale, including a minority stake sale to a financial investor or private equity firm.