A drive-thru window of a Wendy’s restaurant in Peoria, Illinois.
Daniel Acker | Bloomberg | Getty Pictures
Shares of Wendy’s surged roughly 15% in prolonged buying and selling Tuesday after a submitting revealed hedge fund Trian Companions, its largest shareholder, is exploring a possible cope with the corporate.
Trian, together with its companions, owns a 19.4% stake within the burger chain and stated it was searching for a deal to “improve shareholder worth” that would embrace an acquisition or merger, in response to the submitting.
—CNBC’s Steve Kopack contributed to this report.
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