Purchased Wendys Wen at 32.60 Today

I bought Wendy’s today at 32.60…looks like a strong candidate to be bought out by billionaire investor, Norman Peltz, owner of TRIARC. He already owns Arby’s and recently signed a non-disclosure agreement to get a chance to look at Wendy’s books. Prior to this recent development, Peltz said he would be considering an offer between 37 and 41 dollars a share. Reasons I have to be optomistic:

- Peltz already owns about 10% of the shares.
- Peltz is investing his time and people in the evaluation of the company.
- If WEN’s management doesn’t play ball, they are going to have a heck of a time answering the major shareholders who sit on the board.
- Peltz represents Arby’s — Wendy’s wouldn’t share their books with a competitor unless they thought it was a legit offer.
I’m hoping for news by the end of September, early October.

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