Arby’s owner wants to bite into a biggie classic
Do you know what this means?! SQUARE ROAST BEEF!!
A major shareholder who has pressured Wendy’s International Inc. to increase stock value said Tuesday that he is considering a purchase of the third-largest North American hamburger chain.
Billionaire investor Nelson Peltz said his company, which owns fast-food chain Arby’s, would be a “natural, strategic buyer” for Wendy’s, according to a letter he sent to Wendy’s chairman, but that the company is blocking him.
Peltz, who runs the Trian Fund, also revealed in the filing that he and his allies have increased their stake to 9.8 per cent of company shares, from 8.4 per cent.
Peltz’ company Triarc Cos. controls Arby’s, which has more than 3,000 restaurants.
Peltz said in the letter to Wendy’s chairman James Pickett, that he believes Wendy’s would prefer to sell itself to anyone but Triarc.
“While Trian will support the transaction that is best for all Wendy’s shareholders, we believe that Triarc is a natural, strategic buyer for the company and should be encouraged to participate in the process,” he said in the letter, part of filing with the U.S. Securities and Exchange Commission to show how many Wendy’s shares Peltz owns.
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