Wendy’s shares jump after Nelson Peltz’s Trian Fund Management offers $7.35 per share to take the burger chain private, as the company faces high beef costs, weaker consumer demand, store closures and intensifying competition in the US fast-food market.
Wendy’s shares jump after Nelson Peltz’s Trian Fund Management offers $7.35 per share to take the burger chain private, as the company faces high beef costs, weaker consumer demand, store closures and intensifying competition in the US fast-food market.
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Wendy’s shares jumped 15% at the opening bell on Wednesday after investor Nelson Peltz’s Trian Fund Management and its partners offered to take the burger chain private, putting a struggling fast food business back in the spotlight, The Associated Press reported.The group has offered $7.35 a share in cash, a premium of nearly 19% to Wendy’s Tuesday closing price. Trian’s stake in the company stands at 16.3%, according to a regulatory filing cited by AP.The bid comes as Wendy’s faces a difficult…
