Peltz-led group offers $1.4 billion to take Wendy’s private
publishers 24articles 24first reported 28 Oct, 14:15 UTCdeveloping since 28 Oct · 5 editions
A group led by Nelson Peltz’s Trian Fund Management has offered about $1.4 billion to acquire Wendy’s and take the burger chain private, according to a regulatory filing Wednesday.
The unsolicited proposal values Wendy’s at $7.35 per share in cash, a 20% premium to the company’s closing share price Tuesday. Wendy’s confirmed receiving the offer, while Trian declined to comment beyond the filing. The Wall Street Journal first reported the proposal.
The investor group also includes BlueFive Capital, Sixth Street Partners and Flynn Group, one of Wendy’s largest franchisees. Trian and affiliated parties already own 16.25% of Wendy’s, making them the company’s largest shareholder. Trian previously considered acquiring Wendy’s in 2022 but did not proceed.
Wendy’s shares rose about 15% in Wednesday morning trading after the offer became public. Even with that increase, the stock has fallen about 65% over the past two years, CNBC reported.
The chain has recorded six consecutive quarters of declining same-store sales as budget-conscious consumers have reduced restaurant spending. Wendy’s has also faced leadership turnover, inconsistent restaurant execution and pressure to clarify its value offerings. Trian said the company requires significant capital investment to improve its performance.
Wendy’s is scheduled to report third-quarter results on Nov. 5.
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Written from 8 articles, 1 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 18 h after the record first saw the story; the editor kept it as written.
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