Wendy's rejects a $1.4 billion buyout bid led by Peltz's Trian and adopts a 'poison pill'
Summary
Wendy's rejected a $1.4 billion buyout offer from an activist investor, saying on Thursday 5 November that the bid was too low, and adopted a 'poison pill' plan, The Philadelphia Inquirer and ABC News reported. The burger chain rebuffed an unsolicited offer from Trian Partners, led by activist investor Nelson Peltz, and another group of investment firms, CBS News reported, and Bloomberg wrote that the Wendy's board unanimously rejected the offer from a group led by Nelson Peltz's Trian Fund Management, saying the proposal substantially undervalues the company's prospects and long-term earnings potential.
Latest: Wendy's rejected a $1.4 billion buyout offer from an activist investor, saying the bid was too low, and adopted a 'poison pill' plan, The Philadelphia Inquirer and ABC News reported, CBS News writing that the unsolicited offer came from Trian Partners, led by Nelson Peltz, and another group of investment firms.
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How it unfolded
Thursday 5 November
Wendy's rejected a $1.4 billion buyout offer from an activist investor, saying the bid was too low, and adopted a 'poison pill' plan, The Philadelphia Inquirer and ABC News reported, CBS News writing that the unsolicited offer came from Trian Partners, led by Nelson Peltz, and another group of investment firms.
- 09:41Bloomberg Wendy’s Rejects Takeover Bid From Peltz's Trian
- 09:11CBS News Wendy's rejects $1.4 billion hostile takeover bid
- 09:06ABC News Wendy's rejects buyout bid from activist investor and adopts 'poison pill' plan
- 08:54The Philadelphia Inquirer Wendy's rejects buyout bid from activist investor and adopts 'poison pill' plan