Activist investor Nelson Peltz's Trian won't pursue Wendy's takeover
Publishing timestamp: 2023-01-13 15:41:24
Summary
Nelson Peltz, chair of Wendy's, announced that he is not interested in acquiring the company. Wendy's also announced a reorganization of its corporate structure and executive departures. Shares of Wendy's closed up 6% on Friday and the company preannounced its fourth quarter results, with same-store sales increasing 6.4% and net sales climbing 13.4%. The board also approved doubling its dividend and spending $500 million on share buybacks.
Sentiment: POSITIVE
Keywords: united states, walt disney co, wendys co, mcdonald's corp, business, restaurants, nelson peltz, business news, retail industry, breaking news: business,
Source: https://www.cnbc.com/2023/01/13/peltz-trian-no-wendys-takeover.html