The group offered $7.35 per share in cash on Oct. 28 to take the struggling burger chain private<\/a>. In addition to Trian, it included investment firms BlueFive Capital and Sixth Street Partners, plus Flynn Group, one of Wendy’s largest franchisees.<\/p>\n In February, Wendy’s board formed a committee of independent directors to assess any potential bid from Trian in response to a regulatory filing from the firm. The committee found that the proposal “substantially undervalues” Wendy’s and does not reflect potential gains from the chain’s ongoing turnaround strategy, the company said in a press release on Thursday.<\/p>\n “Our confidence rests firmly in [CEO] Bob Wright’s proven track record of seasoned industry leadership, including restaurant business turnarounds,” Art Winkleblack, Wendy’s board chair and a member of the independent committee, said in a statement.<\/p>\n Trian declined to comment on Wendy’s decision.<\/p>\n To stave off a hostile takeover, Wendy’s has adopted a shareholder rights plan \u2014 or poison pill \u2014 with a one-year duration, as of Wednesday, the company said. Wendy’s added that the investor group led by Trian rejected an offer from Wendy’s for a standstill agreement that would have paused additional share purchases, adding to Wendy’s decision to use a poison pill.<\/p>\n The rejection is the latest in the long-running saga between Peltz and the burger chain, which dates back to an activist campaign he led more than two decades ago. A Peltz firm has even owned Wendy’s before. In 2008, his company Triarc, which also owned Arby’s, bought Wendy’s<\/a> in a $2.3 billion deal. It later sold Arby’s, turning Wendy’s into a standalone company again. <\/p>\n In 2024, Wendy’s named Peltz as chairman emeritus after he spent 17 years on the company’s board. Trian executive Peter May and Peltz’s son, Bradley, still sit on Wendy’s board.<\/p>\n Wendy’s also reported its third-quarter results<\/a> on Thursday. Its same-store sales declined for the seventh straight quarter. However, its quarterly earnings and revenue topped Wall Street’s expectations.<\/p>\n Shares of Wendy’s fell less than 1% in premarket trading. The takeover offer had lifted the stock, which has lost about 60% of its value over the last three years.<\/p>\n Wendy’s is not the only restaurant chain that has found itself in the crosshairs of activist investors recently. Applebee’s owner Dine Brands<\/a> recently adopted a poison pill<\/a> to block a takeover bid from investment firms Arkhouse Management and Cobblers Cove Capital. <\/p>\n","protected":false},"excerpt":{"rendered":"A Wendy’s restaurant sign in Brampton, Ontario, on July 12, 2026. Mike Campbell | Nurphoto | Getty Images…\n","protected":false},"author":2,"featured_media":906864,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[448,28,122,152680,8084,14007,186187,4322,5682,14446],"class_list":["post-906863","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-breaking-news-business","tag-business","tag-business-news","tag-dine-brands-global","tag-earnings","tag-mergers-and-acquisitions","tag-nelson-peltz","tag-restaurants","tag-retail-industry","tag-wendys-co"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/906863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=906863"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/906863\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/906864"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=906863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=906863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=906863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Wendy’s](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/11\/108525072-17938817871793881786-49450973224-1080pnbcnews.jpg\")
<\/p>\n