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Wendy's stock jumps as much as 15% on Financial Times report of potential takeover bid from Nelson Peltz's Trian Fund Management
Wendy's shares jumped as much as 15% in morning trading on Wednesday after the Financial Times reported that Nelson Peltz's Trian Fund Management is preparing a takeover bid for the struggling burger chain. Trian is reportedly working on a proposal with backing from other investors, including BlueFive Capital and the Flynn Group. Trian owns a 7.85% stake in Wendy's, and Peltz has a 16.24% interest, according to a February regulatory filing. Wendy's recently reported its sixth straight quarter of same-store sales declines.
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