EUR/USD 1.15165
-0.111%
Gold 4514.26
3.079%
Oil 97.553
5.279%
USD/JPY 160.141
0.248%
GBP/USD 1.32713
-0.430%
GBP/JPY 212.533
-0.180%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 29th, it was learned from the Beijing Financial Regulatory Bureau that Beijing has taken the lead nationwide in launching the development and application of commercial insurance products for intelligent connected new energy vehicles. The new products largely follow the existing new energy commercial vehicle insurance system, adhering to the principle of "overall stability with partial optimization." They primarily provide risk protection for specific intelligent driving scenarios and software/hardware losses that are of concern to consumers and automakers, and can be uniformly adapted to all levels of intelligent connected new energy vehicles from L2 to L4. For example, existing car insurance products mainly define drivers based on the basic scenario of "human driving," which is not fully applicable to L3 and L4 level "human-machine co-driving" or "machine driving" scenarios. Furthermore, for L2 level assisted driving vehicles, some consumers upgrade their assisted driving systems at their own expense after purchasing a new car, but existing car insurance products do not cover this portion of the loss, requiring further optimization.According to Iranian state media, Iranian Parliament Speaker Qaribaf stated that the United States talks about negotiations in public but is secretly planning a ground offensive.On March 29, local time, a U.S. military KC-135R aerial refueling tanker encountered an emergency during a mission and was forced to return to Tel Aviv, Israel.The Israel Defense Forces have detected another ballistic missile launch by Iran. Alarms are expected to sound in southern Israel within the next few minutes.On March 29, South Korean Deputy Prime Minister and Minister of Finance and Economy Koo Yoon-cheol stated that if international oil prices rise to $120 to $130 per barrel, the government is likely to activate a Level 3 resource security crisis alert, and the vehicle license plate number restriction measures will be expanded to include the private sector.

Peltz, An Investor in Wendy's, Considers Acquiring A Burger Franchise

Charlie Brooks

May 25, 2022 09:23

W2.png


Nelson Peltz, the largest shareholder of Wendy's Co and a billionaire hedge fund manager, is investigating a potential takeover play for the burger chain, a regulatory filing revealed on Tuesday, nearly two decades after he first invested in the company.


In extended trading, Wendy's (NASDAQ:WEN) shares increased by almost 14 percent after Trian Fund Management, Peltz's firm, announced that it will investigate a deal on its own or with others that might include an acquisition, business combination, or other transaction.


Refinitiv records indicate that the business holds 11.82 percent of Wendy's shares, while Peltz owns 4.86 percent and Trian's president, Peter May, owns 2.7%.


Tuesday's closing price of $16.20 for Wendy's shares is a 32% decrease since January.


Wendy's stated in a statement that its board "will carefully consider any proposal offered by Trian Partners" and is dedicated to acting in the company's and shareholders' best interests.


Peltz is the current chairman of Wendy's board, while May, who is also a founding partner of Trian, serves as non-executive vice chairman, and Matthew Peltz, Nelson's son and Trian colleague, is a board member.


After Peltz and Trian, one of the most respected activist investors in the sector, initially invested in Wendy's in 2005 and began pressing for change in late 2008, the company, which is currently valued at $3.6 billion, has a lengthy relationship with the firm.


In 2008, Wendy's merged with Triarc Companies, a subsidiary of Trian and the parent company of Arby's Restaurant Group. In 2011, Arby's was sold to Roark Capital Group after a merger that lasted less than three years.


According to Trian, it pushed for an operational turnaround focused on enhancing and expanding the Wendy's brand.


Trian announced on Tuesday that it has hired financial and legal experts and informed the board of its objectives. The company's spokesperson declined to comment beyond the filing.


In May, the burger chain's quarterly results fell short of market forecasts due to the impact of severe storms and frigid weather across the United States on shop traffic and breakfast item demand.


Strategic and financial buyers see ample prospects for mergers at a time when the wider market is hovering around bear territory due to fears of inflation and rising interest rates, which have depressed the stock prices of many companies.

Suggestion