Peltz To Seek Control Of Wendy’s Board

Reuters:

Nelson Peltz’s Trian Partners said on Monday it is attempting to gain control of the board of directors at hamburger chain Wendy’s International Inc, which it is attempting to buy.

Trian Partners said in a regulatory filing on Monday that it has notified Wendy’s of its intention to expand the board and to nominate director candidates at Wendy’s upcoming annual shareholders’ meeting.

If successful, Trian would seize control of Wendy’s board.

Billionaire investor Peltz’s Triarc Cos Inc, which owns the Arby’s fast-food chain, said in November that it made a bid for Wendy’s that was below the $37 a share to $41 a share it was prepared to offer in July. Read full article.