Nelson Peltz’s Trian Preparing Take-private Bid for Wendy’s

Trian Fund Management — the firm led by Nelson Peltz — is putting together a group of investors with the goal of taking Wendy's private, Reuters reported Wednesday. According to a source familiar with the matter, Trian Fund Management — the firm led by Nelson Peltz — is pu

Trian Fund Management — the firm led by Nelson Peltz — is putting together a group of investors with the goal of taking Wendy’s private, Reuters reported Wednesday.

According to a source familiar with the matter, Trian Fund Management — the firm led by Nelson Peltz — is putting together a group of investors with the goal of taking Wendy’s private, Reuters reported Wednesday. Wendy’s stock jumped as much as 15% on the news and was temporarily halted for volatility.

Reuters reported that BlueFive Capital and Flynn Group, a franchisee with one of the longest tenures in the Wendy’s system, are among the parties that may join the consortium. A bid is expected in the coming weeks, though the source cautioned the exact timing could change. Trian holds a 7.85% stake in Wendy’s, and Nelson Peltz holds a 16.24% interest, according to a regulatory filing.

Wendy’s carries a market value of about $1.44 billion. The company said it would review any proposal from Trian in line with its fiduciary duties. This is not the first time Trian has explored a Wendy’s buyout.

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