Wendy’s rejects billionaire Nelson Peltz’s $1.4 billion takeover bid, adopts ‘poison pill’ defence as burger chain shuts hundreds of US outlets
Wendy's has rejected a takeover proposal valued at $1.4 billion from billionaire investor Nelson Peltz. The fast-food chain argued that the offer undervalues its long-term growth potential, prompting the adoption of a shareholder rights plan. This defensive strategy is designed to protect the company from unwanted acquisition attempts. Wendy's has been facing declining sales and rising operational costs in the competitive fast-food market.
