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Nelson Peltz is not focused on buying Wendy’s, in response to a regulatory submitting made on Friday.
Peltz serves as non-executive chair on the burger chain’s board and as chief govt of activist agency Trian Fund Management, which is its largest shareholder. In May, Trian mentioned it was exploring a possible cope with the corporate to “improve shareholder worth” that might embrace an acquisition or merger.
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“Trian believes that the Company is well-positioned to ship vital long-term worth for shareholders and appears ahead to persevering with to work with the Board and management staff to take action,” Peltz mentioned in a press release Friday.
Shares of Wendy’s closed up 6% on Friday.
Trian, which was based by Peltz, first invested in Wendy’s in 2005, when the fund was initially created. The agency holds three board seats on the fast-food firm, together with the one held by Peltz.
This consequence was “broadly anticipated” by Wall Street,…
2023-01-13 16:08:07 Nelson Peltz, Trian will not pursue Wendy’s takeover
Original from www.cnbc.com