A possible savior for ailing Wendy’s (WEN) may be emerging, one that is old enough to know the founder’s name was Dave Thomas.
The news: Nelson Peltz’s Trian Fund Management is on the hunt for an investor consortium to take Wendy’s private, according to a new report from the Financial Times on Tuesday
In recent weeks, Trian has reportedly held discussions with outside investors, including in the Middle East, about financing a potential takeover of the chain. A spokesperson for billionaire Peltz, who is 83, declined to comment to Yahoo Finance. Wendy’s stock rose 5% in premarket trading.
The news of Peltz’s interest shouldn’t come as a complete shocker. In February, Trian disclosed in an SEC filing that it was reviewing strategic alternatives for the burger slinger. That included the possibility of gaining full control and taking the company private.