Nelson Peltz Withdraws Private Takeover Bid Plans for Wendy’s
Trian Fund is no longer planning a bid to take Wendy’s private, pausing a potential deal involving BlueFive and Flynn, and redirecting attention to CEO Bob Wright’s turnaround effort. Results are weak: adjusted EBITDA fell $22.5M to $124.1M, U.S. same-restaurant sales dropped 7%, and global systemwide sales declined 6.5% with 289 domestic closures in the first half; further closures are possible.