By The Associated Press
Shares of Wendy’s jumped 15% at the opening bell Wednesday after noted investor Nelson Peltz made an offer to buy the struggling burger chain.
Wendy’s shares are down 25% in the past year following a years-long decline. The chain, founded in 1969 by Dave Thomas and named after his daughter, is known for its square burgers and Frosty desserts. But same-store sales, or sales at restaurants open at least a year, have for more than two years. Those sales declined during the first two quarters of 2026.
Peltz’s Trian Fund Management and several partners are offering Wendy’s $7.35 per share in cash, or a premium of nearly 19% over the stock’s closing price on Tuesday.
In a letter to the company’s board of directors, Peltz said going private “will deliver the best outcome for the broader stakeholder base.”
“Wendy’s sits at a critical juncture,” Peltz wrote. “The external environment has become increasingly challenging given the significant pressures on the U.S. consumer, economic uncertainty, persistent commodity inflation and intensifying competition, particularly within the QSR (quick service restaurant) burger category.”
Peltz has invested in companies from Procter & Gamble and Disney, to DuPont. According to a regulatory document filed Wednesday, Trian’s stake in Wendy’s totals 16.3%.
Wendy’s, based in Dublin, Ohio, declined to comment. The chain is scheduled to report its quarterly financial results next week. Analysts expect Wendy’s earned 9 cents per share on sales of $531 million on average.
Shares rose 91 cents to $7.05 Wednesday.
Related Posts:
- In-N-Out’s owner affirms the chain is committed to California News In-N-Out Burger remains committed to California, its leader said at the chain’s 78th anniversary. “This is where we started, where we are and where we will always be,” owner and president Lynsi Snyder told athlete and TV personality Terry Crews in a 49-minute interview on the chain’s website. She added that…
- We received more than 50 submissions of Chicago’s best Halloween displays. And the winner is… News We asked for your Halloween displays and you delivered with your formidable, terrifying and inspiring cemeteries, graveyards and even a “frightalian” beef shop. More than 50 bone-chilling photos and videos were submitted, demonstrating the limitless creativity of our neighbors. It was difficult to narrow it down to our favorites because…
- Tours offer Halloween enthusiasts visits to former psychiatric hospital and funeral home News By MIKE HOUSEHOLDER WESTLAND, Mich. (AP) — It’s not enough these days for some Halloween enthusiasts to be scared by actors dressed up in spooky getups at makeshift haunted houses: They want the “real” thing. At a former psychiatric hospital in suburban Detroit and a former funeral home in Toledo,…
- Why Bruno Fernandes has been dropped for Manchester United vs Bournemouth Sports Bruno Fernandes will make a rare appearance on the bench on Sunday (Picture: Shutterstock) Manchester United captain Bruno Fernandes will be on the bench when the Red Devils host Bournemouth on Sunday, in a bold move from manager Michael Carrick. A 4-1 defeat at Como in the Champions League on…
- Mikel Arteta warns rivals one Arsenal star has unlocked something in his team Sports Mikel Arteta was pleased to see a weapon restored to his arsenal (Picture: AP Photo) Mikel Arteta admits he was disappointed it took until the Everton win for Arsenal to score a set-piece goal, but Ezri Konsa has now unlocked their threat from dead balls. Konsa scored Arsenal’s opener in…
(Visited 2 times, 1 visits today)