Wire reporting: (AP, via ClickOrlando)

A group of investors led by Nelson Peltz's Trian Fund Management offered $1.4 billion to take Wendy's Co. private, according to a regulatory filing Wednesday, and the burger chain's shares rose about 15%^1,2.

The group offered $7.35 a share in cash, a premium of about 20% to Tuesday's close in CNBC's account and nearly 19% in the Associated Press account carried by local stations^1,2,5.

CNBC said the group also includes BlueFive Capital, Sixth Street Partners and Flynn Group, one of Wendy's largest franchisees¹.

AP reporting said shares rose 91 cents to $7.05 at the open and are down 25% over the past year^2,5.

CNBC said Wendy's stock has fallen 65% over two years, including Wednesday's gains, and that the company has posted same-store sales declines for six straight quarters¹.

AP reporting said same-store sales have declined for more than two years, including the first two quarters of 2026^2,5.

Trian and affiliated parties own about 16.25% of Wendy's, CNBC said; AP reporting put the stake at 16.3%^1,2.

CNBC said Trian previously explored a Wendy's takeover in 2022 and later decided against it¹.

Wendy's, based in Dublin, Ohio, declined to comment, AP reporting said, and did not immediately respond to CNBC^1,5.

Trian declined to comment beyond the filing, CNBC said¹.

AP reporting said the chain is scheduled to report quarterly results next week, with analysts expecting 9 cents a share in earnings on $531 million in sales on average^2,5.

CNBC said Bob Wright, formerly of Potbelly, became chief executive in May¹.