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Trian-led group offers to take Wendy's private
Trian, Flynn Group and partners made a non-binding $7.35 a share cash proposal for Wendy's on October 28, 2026.
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Trian and Flynn offer $7.35 a share to take Wendy's private, citing debt and weak sales
The non-binding October 28 proposal values the burger chain at about $1.4 billion; Wendy's second-quarter US same-restaurant sales fell 7.0%.
Wendy's board rejects Trian's $7.35 offer and adopts a one-year rights plan
The independent committee said the proposal undervalues the chain; the board's third-quarter report shows US same-restaurant sales down 5.7% and adjusted EBITDA down 17.8%.