Wendy's declined a purchase offer of $1.4 billion Wednesday from Trian Fund Management, led by billionaire and activist Nelson Peltz, according to reports.
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Wendy’s Co. board unanimously rejected the Trian Fund Management-led offer to buy out the burger chain for about $1.4 billion, saying the proposal substantially undervalues the restaurant chain’s standalone prospects and long-term earnings potential.
Wendy's independent committee rejected a $1.4B Trian-led buyout at $7.35 a share as undervaluing the firm and adopted a poison pill after the group, already at 16.3%, refused a standstill.
Wendy’s rejected a $1.4 billion buyout offer from an activist investor, saying Thursday that the bid was too low. The burger chain also adopted a “poison pill” plan that would make it more difficult to engineer a hostile takeover of the company.
Wendy’s rejected a $1.4 billion buyout from billionaire Nelson Peltz’s Trian Fund Management, claiming that the offer “substantially undervalues” the company and adopting a “poison pill” plan to protect the company from a hostile takeover.
Wendy's declined a purchase offer of $1.4 billion Wednesday from Trian Fund Management, led by billionaire and activist Nelson Peltz, according to reports.
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Ohio-based Wendy’s rejects $1.4 billion purchase offer | Since Then
