25-May-2011 Wendy's top shareholder aims to "explore and assess" a sale to revive slumping stock prices.
Nelson Peltz, a Wendy's director since 2008, controls 19.4% of the company's shares via his private equity vehicle, Trian.
Wendy's profit margins have dropped under growing commodity and labour expenses in the highly competitive fast-food business, despite introducing breakfast at the onset of the COVID-19 epidemic
The fast-food chain's shares rose 11% after the SEC filing. While investors may want a sale, the SEC statement noted there may be none due to market competition.
Cowan restaurant expert Andrew Charles said a Wendy's sale may not be easy. Many major restaurant owners have burger chains, he said.