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Stock Market & Financial Investment News

News Breaks
January 14, 2014
07:08 EDTWENWendy's announces commencement of $275M modified dutch auction tender offer
Wendy's announced that it is commencing a modified "Dutch auction" tender offer to repurchase shares of its common stock for an aggregate purchase price of up to $275M. Pursuant to the tender offer, company stockholders may tender all or a portion of their shares at a price specified by the tendering stockholder of not less than $8.50 and not more than $9.25 per share or without specifying a purchase price, in which case their shares will be purchased at the purchase price determined in accordance with the tender offer.
News For WEN From The Last 14 Days
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July 20, 2015
17:34 EDTWENWendy's completes purchase of 18.42M shares from Trian Group
As previously reported, on June 2, Wendy's and the Trian Group entered into a purchase agreement. At Wendy's request, the Trian Group agreed not to tender or sell any of their shares in the offer and instead agreed, pursuant to the purchase agreement, to sell a pro rata amount of their shares of common stock to the company at a purchase price per share equal to the purchase price determined and paid in the offer, following the completion of the offer. Pursuant to the purchase agreement, on July 17, the company acquired 18.42M shares of common stock, in the aggregate, from the Trian Group at a price of $11.45 per share, for an aggregate purchase price of approximately $210.9M. Trian Group currently holds approximately 19.56% of the outstanding shares of common stock. As such, the Trian Group has completed its previously announced plan to sell a sufficient number of shares to reduce its holdings in the company by at least 20% in order to avoid adverse federal income tax consequences in connection with the transaction. Following completion of the transaction, the Trian Group remains the company’s largest stockholder based on current share ownership information on file with the SEC. In addition, Nelson Peltz continues to serve as the chairman of the board of the company, Peter May continues to serve as vice chairman of the board of the company and Edward Garden continues to serve as a director of the company.

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