Trian Fund Management LP,
Wendy’s Co.
’s largest shareholder, said it is exploring an acquisition or another potential deal for the fast-food restaurant, as it works to improve sales and deals with rising costs.
The activist hedge fund said it advised the fast-food restaurant chain’s board that it intends to explore and evaluate a potential transaction, alone or with third parties, to enhance shareholder value, according to a securities filing late Tuesday. A potential transaction could include an acquisition, merger or other deal that would result in control of Wendy’s, according to the filing.
Wendy’s shares jumped 17% to $19.08 in after-hours trading Tuesday.
Trian owns about 19.4% of the company, and is the company’s largest shareholder,…
