Peltz Calls On Wendy’s To Put Sale To A Vote

Columbus Dispatch:

After weeks of silence, Wendy’s International and interests led by billionaire Nelson Peltz sniped back and forth yesterday over the future of the Dublin-based burger chain. The Peltz camp said 2 recent offers to buy the company were rejected, and it is seeking a special meeting so that shareholders can vote on the company’s future, its filing with the Securities and Exchange Commission said.

Soon after, Wendy’s shot back with its own filing, saying ‘private actions and public statements have been inconsistent’ on the part of Trian Fund Management and Triarc Cos., the Peltz-controlled companies that made the bids.

The filing also said a special committee formed a year ago to consider options for Wendy’s future, including a possible sale, will have further announcements ‘in the very near future.’

Despite yesterday’s fireworks, the situation remains as murky as ever.

‘It drives me crazy,’ said Pam Thomas Farber, daughter of founder Dave Thomas and a Wendy’s franchisee and investor. ‘It’s tiring. We don’t know what’s going to happen.’

Full article.