Peltz Offers $7.35 Per Share To Acquire Wendy's Amid Sales Slump

Wendy's shares rose 15% on Wednesday after Nelson Peltz's Trian Fund Management announced a bid to purchase the hamburger chain. The offer values each share at $7.35 in cash. This price represents a premium of nearly 19% above the stock's closing price of $7.05 on Tuesday.

The chain, founded by Dave Thomas in 1969, has seen its stock drop 25% over the last 12 months. Comparable store sales, defined as revenue from locations open for at least a year, have declined for more than two years. Sales fell during both the first and second quarters of 2026.

Peltz outlined his reasoning in a letter to Wendy's board of directors. He argued that taking the company private would yield the best outcome for its stakeholders. "Wendy's is at a critical juncture," Peltz wrote. He cited challenging external conditions, including pressure on the American consumer, economic uncertainty, and persistent commodity inflation. He noted that competition within the quick service restaurant hamburger category has intensified.

Regulatory documents filed on Wednesday indicate Trian currently holds a 16.3% stake in Wendy's. Peltz has previously invested in companies including Procter & Gamble, Disney, and DuPont. Wendy's, headquartered in Dublin, Ohio, declined to comment on the proposal. The company is scheduled to report its quarterly financial results next week.

Analysts estimate Wendy's will report earnings of 9 cents per share for the upcoming period. They project average revenue of $531 million. The stock gained 91 cents during Wednesday's trading session to close at $7.05.