Wendy's stock surges on report of potential takeover bid by Nelson Peltz's Trian Fund

Shares in Wendy's surged following reports that Nelson Peltz's Trian Fund Management is considering a takeover bid for the fast-food chain. Peltz has a long history with Wendy's, having led an activist campaign against the company more than two decades ago. Trian Fund Management is already one of Wendy's largest shareholders.