Nelson Peltz Makes a $1.4 Billion Bid for Wendy's
Nelson Peltz wants to buy Wendy's and take the burger chain private for $1.4 billion.
Big changes may come to Wendy's drive-thru lanes. Investor Nelson Peltz wants full control of the famous burger chain. His firm Trian Fund Management offered $1.4 billion to buy the company.
The offer values the stock at $7.35 per share. That price sits 20 percent higher than the recent closing price. Peltz already owns a large slice of the business. Now he wants to take it off the public stock market.
Wendy's faces tough times right now. Fast food customers watch their budgets closely, so sales growth slowed down. A private owner can fix store problems away from the daily pressure of Wall Street.
Shareholders get a chance to cash out at a solid premium if the board approves the deal. For burger fans, the move shows how fast food giants fight to stay competitive.
Source: Fox Business
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