Wendy's (WEN) Shares Surge as Large Holder Nelson Peltz to Explore Potential Deal

May 24, 2022 5:22 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Wendy's (NASDAQ: WEN) shares jumped 15% after-hours Tuesday after long-time shareholder Nelson Peltz of Trian Fund Management said they are exploring a potential transaction, including a possible merger.

Mr. Peltz currently controls 41,217,239 shares, or 19.24% of the shares outstanding.

The fund has retained financial, legal and/or other advisors or consultants to assist them in evaluating their investment in the Company and a potential transaction.

Shares of Wendy's are down 32% year-to-date.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

13Ds, Hot List, Mergers and Acquisitions, Rumors

Related Entities

Nelson Peltz, Trian Fund, Definitive Agreement