Trian Fund Management, the activist hedge fund led by billionaire investor Nelson Peltz, has offered to take Wendy’s private in a deal that values the fast-food chain at roughly $1.4 billion.
Trian and its partners offered to acquire all Wendy’s shares they do not already own for $7.35 each in cash, according to a regulatory filing on Oct. 28. The price represents a roughly 20 percent premium to Wendy’s closing share price on Oct. 27.
Trian currently owns about 16.3 percent of Wendy’s outstanding shares. Restaurant operator Flynn Group and investment firms BlueFive Capital and Sixth Street Partners are working with Trian on the proposed acquisition….