By Denny Jacob
Wendy’s Co. shares jumped 17% to $19.08 in after-hours trading Tuesday after its largest shareholder said it is looking at potential transactions to acquire control of the company.
Trian Fund Management LP said it advised the fast-food restaurant chain’s board that it intends to explore and evaluate a potential transaction, alone or with third parties, to enhance shareholder value, according to a securities filing. A potential transaction could include an acquisition, business combination or other deal that would result in control of Wendy’s, according to the filings.
Trian Fund Management LP owns about 19.4% of the company, according to the filings. Trian is led by billionaire founders Nelson Peltz, Peter May and Ed Garden. Mr. Peltz is chairman of Wendy’s board and Mr. May is vice chairman.
A representative for Wendy’s didn’t immediately return a request for comment.
Write to Denny Jacob at denny.jacob@wsj.com
By Denny Jacob
Wendy’s Co. shares jumped 17% to $19.08 in after-hours trading Tuesday after its largest shareholder said it is looking at potential transactions to acquire control of the company.
Trian Fund Management LP said it advised the fast-food restaurant chain’s board that it intends to explore and evaluate a potential transaction, alone or with third parties, to enhance shareholder value, according to a securities filing. A potential transaction could include an acquisition, business combination or other deal that would result in control of Wendy’s, according to the filings.
Trian Fund Management LP owns about 19.4% of the company, according to the filings. Trian is led by billionaire founders Nelson Peltz, Peter May and Ed Garden. Mr. Peltz is chairman of Wendy’s board and Mr. May is vice chairman.
Wendy’s said in a securities filing that its board will carefully review any proposal by Trian.
Write to Denny Jacob at denny.jacob@wsj.com
This article was originally published by Marketwatch.com. Read the original article here.
