Trian offered $1.4 billion for Wendy’s — CNBC

A group of investors led by Nelson Peltz’s Trian Fund Management offered $1.4 billion to acquire the Wendy’s restaurant chain. As CNBC reports, the offer was disclosed in a regulatory filing.

Offer for shareholders

The investors offered to pay Wendy’s shareholders $7.35 in cash for each share. The proposal envisages taking the burger chain private and turning it into a private company.

In addition to Trian Fund Management, the group includes investment firms BlueFive Capital and Sixth Street Partners, as well as Flynn Group, one of Wendy’s largest franchisees.

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Company situation

Wendy’s shares rose 15.31% amid reports of the investors’ offer. According to CNBC, the company had been going through a difficult two-year period, as visitors seeking to save money had been dining out less frequently.

Wendy’s and other restaurant chains had been trying to attract customers with discounts. The investors’ offer came amid this period for the company.