Wendy’s rejects $1.4 billion takeover proposal from Nelson Peltz’s Trian

Wendy’s declined a takeover bid valued at $1.4 billion from an investor consortium led by Nelson Peltz’s Trian Fund Management. The group, which also included BlueFive Capital, Sixth Street Partners, and Flynn Group, submitted an offer of $7.35 per share in cash in late October to take the fast-food chain private.
Wendy’s board, through an independent committee of directors formed in February to evaluate any potential Trian proposal, determined the offer substantially undervalues the comp