00:00It's Benzinga, bringing Wall Street to Main Street!
00:02Wendy's shares jumped more than 14 percent Wednesday after the Financial Times reported
00:06that Nelson Peltz's Tryon Fund Management is preparing a takeover bid for the burger chain.
00:11According to CNBC, Tryon is working on a proposal with backing from investors including Blue5 Capital
00:17and Flynn Group, a major Wendy's franchisee. Wendy's said it would review any proposal
00:21consistent with its fiduciary duties, while representatives for Peltz did not immediately
00:26respond to a request for comment. The report comes days after Wendy's posted its sixth straight
00:30quarter of same-store sales declines. Tryon owns a 7.85 percent stake in Wendy's, while Peltz has a
00:3516.24 percent interest. Tryon previously explored taking Wendy's private in 2022, but later decided
00:42against pursuing a deal. For all things money, visit Benzinga.com.
Comments