Arby's owner prepares Wendy's offer 20 minutes ago

Arby's owner prepares Wendy's offer 20 minutes ago



COLUMBUS, Ohio - A major shareholder who has pressured Wendy's International Inc. to increase stock value said Monday that he is ready to offer $37 to $41 per share to buy the nation's third-largest hamburger chain.

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Billionaire investor Nelson Peltz said his company, which owns fast-food chain Arby's, would be a "natural, strategic buyer" for Wendy's, according to a letter he sent to Wendy's chairman James Pickett that was filed with the Securities and Exchange Commission.

Wendy's stock rose 16 cents to $33.69 in trading Monday. It rose 81 cents to $34.50 in after-hours trading.

Peltz, who runs the Trian Fund, revealed in a separate filing July 3 that he and his allies had increased their stake in Wendy's to 9.8 percent of the company's shares, from 8.4 percent.

Peltz' company Triarc Cos. controls Arby's, which has more than 3,000 restaurants.