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Shares of Wendy's
jumped as much as 15% in morning trading on Wednesday after the Financial Times reported that Nelson Peltz's Trian Fund Management is preparing a takeover bid for the struggling burger chain.
The stock, which is only up about 1% this year, was temporarily halted for volatility.
Trian is working on a proposal with backing from an assortment of other investors, like BlueFive Capital and the Flynn Group, a large Wendy's franchisee, according to the report, which cited sources familiar with the matter.
