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These sources indicate that Trian is assembling a team of co-investors, expected to feature the Flynn Group, a major franchisee of Wendy's, along with the Abu Dhabi investment company BlueFive Capital.
The consortium is expected to place a bid for Wendy's shares in the upcoming weeks. Trian, holding a 16% share of the company, must furnish details about the offer to regulatory authorities. Subsequently, Wendy's independent board members will need to determine if they should begin talks with the investor group or start a sale procedure with alternative buyers, according to the FT.
Peltz had been gearing up to propose a buyout for Wendy's since February, when Trian mentioned in regulatory documents that the restaurant chain was "undervalued" and that the hedge fund was exploring several strategic alternatives with prospective co-investors, such as repurchasing Wendy's shares and going public.
Wendy's replied to the FT's question by saying it would "thoroughly examine Trian's proposal" if it were to be presented.
source: ft.com
The consortium is expected to place a bid for Wendy's shares in the upcoming weeks. Trian, holding a 16% share of the company, must furnish details about the offer to regulatory authorities. Subsequently, Wendy's independent board members will need to determine if they should begin talks with the investor group or start a sale procedure with alternative buyers, according to the FT.
Peltz had been gearing up to propose a buyout for Wendy's since February, when Trian mentioned in regulatory documents that the restaurant chain was "undervalued" and that the hedge fund was exploring several strategic alternatives with prospective co-investors, such as repurchasing Wendy's shares and going public.
Wendy's replied to the FT's question by saying it would "thoroughly examine Trian's proposal" if it were to be presented.
source: ft.com
