Wendy’s (WEN) Stock Jumps 13% as Trian Partners Plans Take-Private Bid

TLDR

• Wendy’s stock jumped as much as 17%, trading up ~13% to around $8.50 after the Financial Times reported Trian Partners is preparing a bid to take the company private.
• Nelson Peltz’s Trian Partners, along with Flynn Group and Abu Dhabi-based BlueFive Capital, could submit a formal bid within weeks.
• Trian and Peltz together hold more than 24% of Wendy’s, making them the largest shareholder.
• Wendy’s said its board would “thoroughly review” any proposal from Trian consistent with its fiduciary duties.
• The stock has lost nearly half its value over the past 12 months and last week the company pulled its full-year outlook and cut its annual dividend.

Wendy’s stock was up around 13% to $8.50 on Wednesday after the Financial Times reported that Nelson Peltz’s Trian Partners is preparing a bid to take the fast-food chain private.

The Wendy’s Company, WEN

The stock briefly surged as high as 17% following the report. Trading in Wendy’s was halted briefly on Wednesday before resuming.

Peltz’s coalition is expected to include Flynn Group, one of Wendy’s largest franchisees, and Abu Dhabi-based BlueFive Capital, according to the FT.

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