Wendy's rejects $1.4bn Nelson Peltz takeover bid and adopts shareholder rights plan

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Wendy's has turned down a takeover proposal from billionaire investor Nelson Peltz that was valued at $1.4 billion. The fast-food chain contends the offer fails to reflect its long-term growth prospects. In response, it has put in place a shareholder rights plan, a defensive measure meant to shield the company from unsolicited acquisition attempts. The decision comes as Wendy's contends with falling sales and higher operating costs in a crowded fast-food sector.

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