Key Takeaways
- • Trian Fund Management, led by Nelson Peltz, has offered to take Wendy's private in a deal valued at US$1.4 billion, according to the Wall Street Journal.
- • Trian is leading a consortium that has proposed paying US$7.35 per share in cash for Wendy's, per the WSJ report citing people familiar with the matter.
- • Wendy's shares rose about 15 per cent to US$7.05 in premarket trading following the report.
- • Neither Wendy's nor Trian had responded to Reuters requests for comment at the time of publication.
Summary
Nelson Peltz's Trian Fund Management has made a take-private offer for burger chain Wendy's (WEN-Q) valued at US$1.4 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. According to the WSJ, Trian is leading a group of investors that has proposed acquiring Wendy's for US$7.35 per share in cash.
The report prompted a sharp move in the stock. Wendy's shares climbed about 15 per cent to US$7.05 in premarket trading. Wendy's and Trian did not immediately respond to requests for comment from Reuters, so the status of the proposal, including whether the board has engaged with the bidders, remains unclear from the available reporting.
The offer would take the restaurant chain private if accepted, removing its publicly traded equity. Trian, the investment firm co-founded by Peltz, is a multi-strategy alternative asset manager with a history of activist investing and large public-company stakes.
The report prompted a sharp move in the stock. Wendy's shares climbed about 15 per cent to US$7.05 in premarket trading. Wendy's and Trian did not immediately respond to requests for comment from Reuters, so the status of the proposal, including whether the board has engaged with the bidders, remains unclear from the available reporting.
The offer would take the restaurant chain private if accepted, removing its publicly traded equity. Trian, the investment firm co-founded by Peltz, is a multi-strategy alternative asset manager with a history of activist investing and large public-company stakes.
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