Wendy’s rejects a $1.4 billion takeover offer from billionaire Nelson Peltz’s investor group and adopts a one-year poison pill defence, even as the struggling US burger chain closes hundreds of restaurants
Wendy’s has rejected a $1.4 billion takeover proposal from a group led by billionaire investor Nelson Peltz, arguing that the offer significantly undervalues the struggling burger chain and its long-term growth prospects. The US fast-food company has also adopted a one-year shareholder defence plan, commonly known as a ‘poison pill’, to make it harder for…