Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Qantas to Sell Jetstar Japan Stake as It Refocuses on Core Australian Operations 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Gold Prices Rebound Near Key Levels as U.S.-Iran Tensions Boost Safe-Haven Demand 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
China Services PMI Hits Three-Month High as New Orders and Hiring Improve 
Trump Administration Sued Over Suspension of Critical Hudson River Tunnel Funding 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Oil Prices Climb as Middle East Tensions and U.S. Inventory Data Boost Market Sentiment 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
U.S. Stock Futures Edge Lower as Tech and AI Stocks Drag Wall Street Ahead of Key Earnings 
Australia’s Corporate Regulator Urges Pension Funds to Boost Technology Investment as Industry Grows 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Thailand Inflation Remains Negative for 10th Straight Month in January 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Wendy's Co.'s largest investor, Nelson Peltz, is reportedly thinking of taking over the fast-food chain and possibly turning it into a private company. The potential bid was revealed through a regulatory filing that was filed on Tuesday this week.
The billionaire shareholder was said to have invested in Wendy's Co. more than two decades ago, and now he is considering a takeover. According to Reuters, the burger joint's shares increased by around 14% in extended trading after Peltz divulged in the filing that his company, the Trian Fund Management, has raised its share to 19.24%, which was only 18.41% in August 2019.
Peltz is also the current director and chairman of the board at Wendy's Co., and his fund management firm is planning to delve into the possibility of a deal by itself or along with other interested parties. A buyout or a merger with another company is another option for the takeover bid as stated in the filing. In response to the Trian Fund Management, L.P.'s filing with the Securities and Exchange Commission, The Wendy's Company issued a statement saying it would review the proposal.
"The Wendy's Company's Board of Directors and management team regularly review the Company's strategic priorities and opportunities with the goal of maximizing value for all stockholders," the burger chain said in a press release. "Our Board is committed to continuing to act in the best interests of the Company and its stockholders. Consistent with its fiduciary duties, the Board will carefully review any proposal submitted by Trian Partners."
Restaurant Business reported that if Peltz succeeded in acquiring Wendy's Co., he is likely to take it private and could do it more easily than anyone else. The explanation here is simple, he already owns over 19% of the fast-food chain's shares, and it is trading at a nadir.
At any rate, the sale of Wendy's has been placed on the table mainly because of the rising costs. The burger chain brand has seen its profit margins plummet in the highly competitive fast-food market in the midst of the rising labor costs and commodities. The company's shares have lost almost a third of their value this year.
