Wendy’s Co.
WEN -2.34%
shares jumped 17% to $19.08 in after-hours buying and selling Tuesday after its largest shareholder stated it’s potential transactions to accumulate management of the corporate.
Trian Fund Management LP stated it suggested the fast-food restaurant chain’s board that it intends to discover and consider a possible transaction, alone or with third events, to reinforce shareholder worth, in accordance with a securities submitting. A possible transaction may embody an acquisition, enterprise mixture or different deal that may end result accountable for Wendy’s, in accordance with the filings.
Trian owns about 19.4% of the corporate, in accordance with the filings. Trian is led by billionaire founders
Nelson Peltz,
Peter May
and
Ed Garden.
Mr. Peltz is chairman of Wendy’s board and Mr. May is vice chairman.
Wendy’s stated in a securities submitting that its board will rigorously assessment any proposal by Trian.
Write to Denny Jacob at [email protected]
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Source: www.wsj.com”