Wendy’s Rejects Trian-Led $7.35-Per-Share Takeover Bid
Wendy’s independent committee unanimously rejected a cash takeover proposal from a Trian Partners-led investor group, saying it substantially undervalued the company. Wendy’s also adopted a limited-duration rights plan.
The Wendy’s Company (WEN) shares were in focus on Thursday after the fast-food chain’s independent committee unanimously rejected a $7.35-per-share cash takeover proposal from a Trian Partners-led investor group, saying the offer substantially undervalued the company and did not reflect the value e…