logo
  

Wendy's Stock Jumps 11% After Trian Says It's Considering Potential Transaction

Shares of Wendy's Company (WEN) are gaining over 11% on Wednesday morning after the burger chain's largest shareholder, Trian Fund Management, revealed plans that it is considering a potential transaction for Wendy's.

WEN is currently trading at $18.08, up $1.81 or 11.12%, on the Nasdaq. The stock opened its trading at 17.38 after closing Tuesday's trading at $16.27. The stock has traded between $15.77 and $29.46 in the past 52-week period.

According to a SEC filing, Trian, the investment company of billionaire Nelson Peltz, has revealed the Wendy's board that it intends to "explore and evaluate" a transaction, alone or with third parties to "enhance shareholder value."

Trian owns about 11.8% of Wendy's stock. A transaction "could include an acquisition, business combination (such as a merger, consolidation, tender offer or similar transaction) or other transaction," Trian said in a filing.

In a statement, Wendy's said its board "will carefully review any proposal" submitted by Trian.

For comments and feedback contact: editorial@rttnews.com

Business News

Get Access to Premium Stock Alerts with RTT Intelligent Investor.
Follow RTT