Wendy's (NASDAQ: WEN ) shares jumped 15% after-hours Tuesday after long-time shareholder Nelson Peltz of Trian Fund Management said they are exploring a potential transaction, including a possible merger.
Mr. Peltz currently controls 41,217,239 shares, or 19.24% of the shares outstanding.
The fund has retained financial, legal and/or other advisors or consultants to assist them in evaluating their investment in the Company and a potential transaction.
Shares of Wendy's are down 32% year-to-date.
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