Retail
Wendy's (WEN) Offer From Peltz, But Price Is Secret
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The Associated Press writes "billionaire investor Nelson Peltz submitted an offer to buy Wendy’s International Inc. (WEN), but the proposed price is below what he previously said the nation’s third-largest hamburger chain is worth, according to a regulatory filing Tuesday."
At one point, Peltz said the fast food chain might be worth $37 to $41. But, the shares trade at under $31.
Triarc Co (TRY), a company owned by Peltz, made the bid.
No one would be surprised if the number was below $34 a share.
Yesterday we noted the possibility and rationale for a "take-under" scenario being quite possible..
Douglas A. McIntyre
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