Wendy’s shares jumped 16% on a potential private takeover
The Wendy’s Company saw its shares rise up to 16% after a report emerged about a potential private takeover.
The company’s largest shareholder, Trian Fund Management, is putting together a proposal to take the company private.
Trian, led by Nelson Peltz, has a 7.85% interest in Wendy’s and Peltz personally holds approximately 16.24%.
The potential takeover comes after Wendy’s reported its sixth straight quarter of same-store sales downturns, losing its spot as America’s second-largest burger chain