It was widely speculated late last year that the market for mergers and acquisitions in the restaurant space was diminishing, or at least shifting focus from chains to multi-unit franchisees following last year's robust sales pace. And then Noodles got sold. And Hooters (though that's currently in legal limbo). And now, by our count, at least three other restaurant chains are on the block, following Yum's announcement this morning that it plans to sell Long John Silvers and A&W. Benihana is currently being auctioned off (one potential bidder we've heard is Tilman Fertitta, which should come as a surprise to absolutely nobody). And, let's not forget Wendy's/Arby's, where top shareholder Trian Fund Management is considering a sale. Nor should we ignore Red Robin Gourmet Burgers, where investors are pushing for a sale. So, if you're looking for a restaurant chain, there is plenty of supply on the market from which to choose.