Wendy's surges up to 15% on report Trian Fund Management preparing takeover bid

Published Aug 12, 03:25 PM UTC

Shares of Wendy's jumped up to 15% in morning trading on August 12, 2026, following a Financial Times report that Nelson Peltz's Trian Fund Management is preparing a takeover bid to take the struggling burger chain private. The bid reportedly has backing from BlueFive Capital and the Flynn Group, a large Wendy's franchisee. The news comes after Wendy's reported its sixth consecutive quarter of same-store sales declines, allowing Burger King to overtake it as the second-largest U.S. burger chain by system sales. Wendy's has struggled with a revolving door of CEOs and muddled turnaround strategies. Trian, which owns a 7.85% stake in Wendy's, previously explored a takeover in 2022 but decided against it. Peltz has a long history with Wendy's, having led an activist campaign over two decades ago and serving as chairman emeritus since 2024.