Trian Drops Immediate Plans for Wendys Takeover Bid
Trian Fund Management has no plans to make a take-private bid for Wendys right now. The decision gives new Chief Executive Bob Wright time to execute a turnaround plan for the fast food chain.
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WENDY'S CO's longtime shareholder Trian Fund Management has no plans to make a take-private bid for the fast-food chain at this time. The decision follows a surge in the company's stock price earlier in August after reports of a potential buyout preparation. The sudden reversal sent shares tumbling 14% in after-hours trading on Wednesday.
