A lower offer for Wendy’s
From Times Wire Services
Nelson Peltz’s Triarc Cos. made an offer for Wendy’s International Inc. that was less than the $3.2 billion the investor said he might pay in July.
Peltz’s bid makes it unlikely that Wendy’s will accept his offer, analysts and investors said. The billionaire, who has pressured Wendy’s management to boost its stock price since buying a stake in 2005, made the offer after the third-largest U.S. hamburger chain said a possible sale was being delayed by turmoil in credit markets last month.
The bid is below the range of $37 to $41 a share that Peltz had said he’d consider proposing.
