Peltz's Trian Can Now Buy Up to 32.5% of Wendy's (WEN), Reviewing Operations on Continuing Basis
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In a Form 8-K Friday morning, Wendy's (NYSE: WEN) disclosed an agreement with Nelson Peltz's Trian Partners under which the fund can purchase up to, but no more than, 32.5 percent of the company's common stock.
As of December 1st, 2011, Trian is now holding a 26.15 percent stake in Wendy's.
In a related 13D, Peltz said he expects to review the company's operations on a continuing basis.
The stock has ticked modestly higher in pre-open action. Shares last traded at $22.04, up about 3.4 percent from Thursday's close.
As of December 1st, 2011, Trian is now holding a 26.15 percent stake in Wendy's.
In a related 13D, Peltz said he expects to review the company's operations on a continuing basis.
The stock has ticked modestly higher in pre-open action. Shares last traded at $22.04, up about 3.4 percent from Thursday's close.
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