Peltz seeking control of Wendy's board
Trian Partners said in a regulatory filing received by Reuters on Monday that it has notified Wendy's of its intention to expand the board and to nominate director candidates at Wendy's upcoming annual shareholders' meeting.
Peltz's Triarc Cos Inc., which owns the Arby's fast-food chain, said in November that it made a bid for Wendy's that was below the $37 a share to $41 a share it was prepared to offer in July, according to the news service.
Trian Partners and its affiliates control nearly 8.6 million shares, or about 9.8 percent, of Wendy's outstanding shares, Reuters reported.
If Wendy's shareholders approved the proposals, Trian Partners would nominate the following board candidates: Jerry Levin, Jeffrey Bloomberg, Ulysses Bridgeman, Kenneth Gilbert, Richard Mandell and Gregory Sachs, the news service reported.