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QUICK SPARK: Wendy's Take-Private Deal Is Off — For Now
Wendy's stock sheds 14% Thursday morning after Reuters reports Peltz's Trian will not make a bid for the company at this time.
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Citigroup Maintains Neutral on Wendy's, Raises Price Target to $8.25
Why Wendy's Stock Dropped Today
Wendy's stock fell 13.55% after reports that billionaire Nelson Peltz's Trian Fund Management will not pursue a takeover bid for the struggling fast-food chain. Despite holding a 16% stake, Trian decided against the acquisition, citing poor performance and an uncompelling valuation. The company faces significant headwinds with global systemwide sales down 6.5% and U.S. same-store sales declining 7% in Q2. New CEO Bob Wright now bears the responsibility of executing a turnaround without the prospect of external acquisition.
Crude Oil Moves Higher; Dollar General Shares Gain After Upbeat Q2 Earnings
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