Wendy's shares rise after report Nelson Peltz's Trian weighs takeover
Wendy’s shares jumped as much as 15% after a report said Nelson Peltz’s Trian Fund Management is preparing a takeover bid for the struggling burger chain. Trading was briefly halted for volatility. Trian and Peltz hold sizable stakes, and the proposal reportedly has backing from other investors. The news follows Wendy’s sixth straight quarter of same-store sales declines and recent CEO turnover.