WLTW

Willis Towers Watson Public Limited Company

231.56
USD
-1.19%
231.56
USD
-1.19%
197.63 271.87
52 weeks
52 weeks

Mkt Cap 28.85B

Shares Out 124.61M

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Wendy's investor Peltz explores taking over burger chain

May 24 (Reuters) - Wendy's Co WEN.O largest shareholder Nelson Peltz is considering a potential takeover bid for the burger chain, a regulatory filing showed on Tuesday, almost two decades after the billionaire hedge fund manager first invested in the company. Wendy's shares rose about 14% in extended trading after Peltz, who is the chairman of the company, disclosed in the filing that his firm, Trian Fund Management, has raised the stake to 19.24% from 18.41% in Aug. 16, 2019. The fund intends to explore the possibility of a deal alone or with other interested parties and it may include a buyout or merger with another firm, among other options, the filing said. "Consistent with its fiduciary duties, the Board will carefully review any proposal submitted by Trian Partners," Wendy's said. The burger chain has a market capitalization of $3.49 billion and had missed market expectations for quarterly results in May as fierce storms and freezing temperatures across the United States hit store traffic and cooled demand for its breakfast items. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Arun Koyyur) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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