Wendy's Rejects Takeover Bid From Trian to Take It Private

(Bloomberg) -- Wendy's Co. ( WEN ) board unanimously rejected the Trian Fund Management-led offer to buy out the burger chain for about $1.4 billion, saying the proposal substantially undervalues the restaurant chain's standalone prospects and long-term earnings potential.

Most Read from Bloomberg

• Morgan Stanley Offers $2.3 Billion Debt for Dell Family Deal

• Democrats Clinch Huge Wins on Inflation Anger, Trump Fatigue

• What the Democrats' Sweep of Congress Means for Trump

• Trump Now Has to Govern Through a Midterm Meltdown of His Own Making

• Democrats Sweep to Control of Congress in Rebuke of Trump

"Our confidence rests firmly in Bob Wright's proven track record of seasoned industry leadership, including restaurant business turnarounds," said Art Winkleblack, chairman of the board. "We believe in Bob and his executive team's ability to execute on the plan they recently presented to our franchisees at the 2026 Wendy's convention."

Shares remained little changed in premarket trading on Thursday. The stock has declined nearly 8.2% so far this year.

Most Read from Bloomberg Businessweek

• The Elon Musk Era of Politics Is Just Beginning

• The Crypto Mogul Behind Trading Powerhouse Hyperliquid

• 7 Brew, Gen Z's Anti-Starbucks, Is on an Expansion Spree

• China's Hottest Night Club Is Bringing In $150 Million a Year

• In Hungary, Magyar Is Driving a Renewed Examination of the Past

©2026 Bloomberg L.P.