Wendy's in the background of potential Trian-Papa John's deal

Published 10/09/2018, 11:15 AM
© Reuters.  Wendy's in the background of potential Trian-Papa John's deal
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  • Trian's apparent interest in Papa John's International (PZZA +7.3%) puts a spotlight on how Wendy's (WEN +0.3%) might figure into the equation.
  • Trian holds a 13% stake in Wendy's and has three seats on the board of directors. leading to the question if Trian would push for Wendy's to acquire the pizza chain. In early analysis on that scenario, CL King thinks a Wendy's buyout would be messy.
  • There's still a lot to be settled, with no firm offers in yet on Papa John's and the company's ex-CEO/Chairman still distracting.
  • Papa John's is up 7.3% on the day, while Wendy's has nudged up 0.3%.
  • Previously: Papa John's +17% on report Peltz is weighing takeover bid (Oct. 8)
  • Now read: Wall Street Breakfast: Treasury Yield Hits Multi-Year High


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