Why Wendy's Stock Blasted Almost 15% Higher Today

Wendy's stock surged nearly 15% after reports that Trian Fund Management, led by Nelson Peltz and backed by a consortium of investors including BlueFive Capital, is preparing a bid to take the fast-food company private. Trian, which holds over 16% of Wendy's equity, could submit an offer within weeks. The company stated it would review any proposal consistent with its fiduciary duties.