Wendy’s, struggling with beef prices and growing competition, gets a buyout offer

Wendy’s shares jumped 15 per cent at the opening bell Wednesday after noted investor Nelson Peltz made an offer to buy the chain, which has been struggling with high beef prices and ageing stores. Peltz’s Trian Fund Management and several partners are offering Wendy’s US$7.35 per share in cash, or a premium of nearly 19 per cent over the stock’s closing price on Tuesday, in a deal that would take the company private.