Business & Finance

Wendy's board rejects $1.4 billion hostile takeover bid from investor group

Wendy's board says the $7.35-per-share offer undervalues the company and adopts a poison pill as same-restaurant sales fall 5.7%.

Published Nov 5, 2026 · 18:34 UTC2 reports

The short version

Wendy's board unanimously rejected a $1.4 billion hostile takeover bid led by Trian Partners and three other investment firms.[CBS News]
The bidders offer $7.35 per share, below the $7.75 pre-market price, and the board says the offer undervalues the company.[CBS News]
Wendy's adopted a poison pill that triggers if a holder reaches 15%, and the bidding group holds 16.3% of shares.[Associated Press]
Third-quarter U.S. same-restaurant sales fell 5.7% and revenue slipped to $547 million from $549.5 million a year earlier.[CBS News]

Wendy's board unanimously rejected a $1.4 billion hostile takeover bid.[CBS News]
The bid was led by Trian Partners, founded by Nelson Peltz, along with Flynn Group LP, BlueFive Capital and Sixth Street Partners.[CBS News]
The bidding groups offer $7.35 per share, while Wendy's stock traded at $7.75 before markets opened on Thursday.[CBS News]
Wendy's adopted a shareholder rights plan, known as a poison pill, that triggers if a person or group owns 15% or more of its shares.[Associated Press]
Peltz's Trian Fund Management and other partners in the investor group hold 16.3% of Wendy's shares.[Associated Press]
Wendy's reported that U.S. same-restaurant sales fell 5.7% in the third quarter, and revenue was $547 million compared with $549.5 million a year earlier.[CBS News]

The board's view that the offer undervalues Wendy's is the company's position, not an independent valuation, and the bidders' response is not covered in the available reporting.[CBS News · Associated Press]

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.