Wendy's, Peltz Talks Heat Up

Wendy's has signed a confidentiality agreement with Nelson Peltz's Trian fund enabling the investor to explore a buyout of the burger chain.

Under the deal, Trian and Peltz's Triarc Cos. which own 9.8% of Wendy's may not buy any more shares of the company before Dec. 1. However, under certain circumstances, those restrictions could terminate prior to that date.

The constraints on buying shares had been a point of contention for Peltz, the billionaire investor who has been agitating at Wendy's over the past year and a half. Wendy's previously offered a confidentiality agreement that had a one-year standstill on buying more shares, which Peltz balked at.

Read Full Article from TheStreet.com

- Posted: 2007-08-28 10:22:51

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