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Shares of Wendy’s jumped 15% at the opening bell Wednesday after noted investor Nelson Peltz made an offer to buy the struggling burger chain.
Wendy’s shares are down 25% in the past year following a years-long decline. The chain, founded in 1969 by Dave Thomas and named after his daughter, is known for its square burgers and Frosty desserts. But same-store sales, or sales at restaurants open at least a year, have declined for more than two years. Those sales fell during the first two quarters of 2026.
Peltz’s Trian Fund Management and several partners are offering Wendy’s $7.35 per share in cash, or a premium of nearly 19% over the stock’s closing price on Tuesday.
In a letter to the company’s board of directors, Peltz said going private “will deliver the best outcome for the broader stakeholder base.”
“Wendy’s sits at a critical juncture,” P...
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