Peltz Group bids $7.35 a share to take Wendy's private

Wendy's shares jumped 15% on Wednesday after Nelson Peltz announced plans to acquire the struggling burger chain. The move targets a company that has seen its stock drop by a quarter over the past year.

The fast-food giant, founded by Dave Thomas in 1969 and named after his daughter, is famous for its square burgers and Frosty desserts. Despite its iconic status, the company has faced financial headwinds. Same-store sales, which track revenue from locations open for at least a year, have declined for more than two years. These sales dropped again during the first two quarters of 2026.

Trian Fund Management, Peltz's investment firm, and several partners are offering $7.35 per share in cash. This bid represents a premium of nearly 19% above the closing price on Tuesday. The offer aims to take the company out of public markets.

In a letter to Wendy's board of directors, Peltz argued that becoming a private company would yield the best outcome for its stakeholders. He noted that Wendy's faces a critical juncture due to tough external conditions. These include pressure on US consumers, economic uncertainty, persistent inflation in raw materials, and fierce competition in the quick-service restaurant sector.

Peltz is known for investing in major corporations such as Procter & Gamble, Disney, and DuPont. A regulatory document filed on Wednesday shows that Trian already holds a 16.3% stake in Wendy's shares.

Wendy's headquarters in Dublin, Ohio, declined to comment on the offer. The chain is scheduled to report its quarterly financial results next week. Analysts currently estimate the company will post earnings of 9 cents per share, with average revenue of $531 million.

On the stock market, Wendy's shares rose 91 cents to close at $7.05 on Wednesday.