Nelson Peltz Offers $1.4 Billion to Buy Wendy's

Wendy's may soon leave the public stock market. Billionaire investor Nelson Peltz wants full control of the burger chain. His firm made an offer to buy the rest of the company today.

The group offers $7.35 for each share. That price values Wendy's near $1.4 billion. It gives shareholders a 20 percent premium over the recent stock price.

Wendy's faces tough competition, and sales have slowed down. Peltz believes he can fix the business away from Wall Street scrutiny. Going private gives a brand time to rebuild.

If the board accepts the deal, shareholders will cash out at the higher price. Watch the stock closely today as the market reacts to the bid.

Source: Fox Business