finance
Wendy’s Shares Rise 14% on Report of Potential Take-Private Bid
Activist investor Nelson Peltz’s Trian Fund Management is seeking funding from outside investors for a possible bid to take Wendy’s private. The fast-food chain has reported declining same-store sales and its stock has fallen for four consecutive years. Talks come as other restaurant chains face similar pressures from competition and costs.
May 12, 11:27 AM·2m read1 source
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Activist investor Nelson Peltz’s Trian Fund Management is seeking backing from outside investors, including in the Middle East, for a potential bid to take fast-food chain Wendy’s private, the Financial Times reported. Shares of Wendy’s jumped about 14 percent on the news.
The company has a market capitalization of $1.3 billion. The discussions are occurring as two major pizza chains, Papa John’s and Pizza Hut’s parent Yum Brands, move closer to sales amid stiff competition, rising commodity costs and reduced consumer demand.
Wendy’s and Trian Fund Management did not respond to requests for comment. The report could not be independently confirmed. Peltz had considered a potential takeover bid for the burger chain in 2022. In February he said Wendy’s stock was undervalued and that he had spoken with possible financing sources about possible deals, including an acquisition or other major transactions.
The stock has been falling for four consecutive years and is down nearly 19 percent so far this year, trading at a discount to peers. Wendy’s forward price-to-earnings ratio for the next 12 months stood at 11.17. That compares with 21.27 for Yum Brands, 20.34 for McDonald’s and 18.60 for Restaurant Brands International, which owns Burger King.
Despite beating first-quarter revenue and profit estimates, the Dublin, Ohio-based company posted its fifth straight quarterly drop in U.S. same-store sales last week. Wendy’s has more than 7,000 restaurants worldwide as of December 28, 2025. Peltz holds a 16.24 percent stake in Wendy’s, up from 16.09 percent held in July last year, while Trian’s stake rose to 7.85 percent from 7.78 percent, according to a February filing.
