Wendy's rejects Trian's $1.4B take-private bid, adopts poison pill
Wendy's board rejected a $7.35-per-share, $1.4 billion cash proposal from an investor group led by Nelson Peltz's Trian, alongside BlueFive Capital, Sixth Street and franchisee Flynn Group. An independent committee said the offer substantially undervalues the chain, and Wendy's adopted a one-year shareholder rights plan after Trian's group refused a standstill.
Why it matters: It's the latest chapter in Peltz's decades-long saga with the burger chain, and the poison pill signals Wendy's is bracing for a possible hostile push.
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