The Wendy's is trading at $7.19, up 17.06%, after Nelson Peltz’s Trian Fund Management and partners offered $7.35 per share in cash to take it private.
- Reuters reported the proposal values the deal at about $1.4 billion; shares rose about 15% in premarket trading after its report.
- CNBC also reported the offer. The nonbinding bid does not mean a transaction has been agreed.
- Broader market gains do not appear to explain the sharp move.