Report
Nelson Peltz’s Trian and partners offer $7.35 a share to take Wendy’s private
Wendy’s formed an independent committee to assess the unsolicited bid, and shares rose more than 14% on Oct. 28.
TLDR
Nelson Peltz’s Trian and partners offered $7.35 a share in cash to take Wendy’s private, valuing the offer at $1.4 billion. Wendy’s formed an independent committee to evaluate the unsolicited proposal, not an agreement to sell. Shares rose more than 14% on Oct. 28. U.S. sales at established restaurants fell 7% in the most recent quarter, a sixth straight decline, and Wendy’s carries $2.4 billion in debt.
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