Why Wendy's Stock Blasted Almost 15% Higher Today
One of its largest and long-standing institutional investors is reportedly leading a go-private bid.
Overview
Wendy's (NASDAQ: WEN) 's largest shareholder is reportedly preparing a bid to take the fast-food company private. In anticipation of a premium-priced buyout, investors piled into the stock on Wednesday, sending it to a nearly 15% gain.
That morning, the Financial Times published a story stating that Trian Fund Management, headed by star investor Nelson Peltz, is leading the go-private effort. Citing unidentified "people familiar with the matter," the business newspaper said that Trian has backing from a consortium of investors. This group apparently includes UAE-based investment firm BlueFive Capital.
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Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.