Wendy's Rejects $1.4 Billion Takeover Bid from Trian-Led Investor Group
Wendy's (WEN) has officially rejected a $1.4 billion proposal to take the fast-food chain private. The offer, submitted on October 28 by an investor group led by Nelson Peltz’s Trian Fund Management, valued the company at $7.35 per share in cash. The investor consortium included BlueFive Capital, Sixth Street Partners, and Flynn Group, one of Wendy's largest franchisees. Following a review by an independent committee of directors, the Wendy's board concluded that the offer substantially undervalues the company's long-term worth.
Tickers: $WEN
Topics: activist investing corporate governance privatization takeover bid
Part of the story Wendy's Rejects $1.4 Billion Takeover Bid from Trian-Led Investor Group (3 articles)