WENDY REJECTS BUYOUT BID AND GIRDS ITSELF FOR A HOSTILE TAKEOVER CAMPAIGN – MACOMB DAILY

What happened: Wendy's rejected a $1.4 billion buyout offer from activist investor Nelson Peltz, saying the bid was too low, and its board adopted a one-year "poison pill" plan to make a hostile takeover more difficult. Key numbers: Offer $1.4 billion. Trian group holds 16.3% of shares; poison pill triggers at 15%. Why it matters: CEO Bob Wright, who joined in May, said the turnaround plan is already producing results and the offer undervalues long-term earnings potential. Peltz said his offer was the best path forward for shareholders amid consumer pressure and intensifying competition.

Wendy's rejected a $1.4 billion buyout offer from activist investor Nelson Peltz, saying the bid was too low, and its board adopted a one-year "poison pill" plan to make a hostile takeover more difficult.

CEO Bob Wright, who joined in May, said the turnaround plan is already producing results and the offer undervalues long-term earnings potential. Peltz said his offer was the best path forward for shareholders amid consumer pressure and intensifying competition.