# Wendy’s Rejects Trian-Led $1.4 Billion Takeover Proposal By John Kim Canonical URL: https://www.tokenpost.com/news/business/50249 Published: 2026-11-06T17:44:52.000Z Updated: 2026-11-06T17:44:52.000Z Section: Business > The group offered $7.35 per share in cash. Wendy’s said the bid undervalued the chain and overlooked potential gains from its turnaround. Wendy’s rejected Thursday, Nov. 5, a $1.4 billion buyout proposal led by investor Nelson Peltz’s Trian Fund Management, saying the $7.35-per-share offer undervalued the burger chain and overlooked potential gains from its turnaround. The group submitted its cash proposal on Oct. 28, after an [earlier report on the offer](). The consortium also includes BlueFive Capital, Sixth Street Partners and Flynn Group, one of Wendy’s largest franchisees. An independent committee of directors, formed in February to assess a possible Trian bid, concluded that the proposal substantially undervalued Wendy’s and did not account for potential gains from its turnaround plan under CEO Bob Wright. “Our confidence rests firmly in Bob Wright’s proven track record of seasoned industry leadership, including restaurant business turnarounds,” Wendy’s board chair and committee member Art Winkleblack said in a statement. Wendy’s put a one-year shareholder rights plan in place Wednesday, Nov. 4. The company said the investor group had declined its request for a standstill agreement, which would have paused additional share purchases. Wendy’s shareholder Blackwells has said it plans to use all available options to oppose the acquisition, as described in [its earlier opposition to the Trian-led bid](). Peltz spent 17 years on Wendy’s board, and the company named him chairman emeritus in 2024. His company Triarc bought Wendy’s for $2.3 billion in 2008 and later sold Arby’s. Trian executive Peter May and Peltz’s son, Bradley, remain on Wendy’s board. Wendy’s also reported third-quarter results Thursday. Comparable sales fell for a seventh consecutive quarter, while earnings and revenue exceeded Wall Street expectations. The company’s shares were down less than 1% in morning trading. ## Links in this article - [earlier report on the offer](https://www.tokenpost.com/news/business/42571) - [its earlier opposition to the Trian-led bid](https://www.tokenpost.com/news/business/43687)