Wendy's rejects $1.4bn Peltz takeover bid, adopts poison pill defence

Wendy's has rejected a takeover proposal valued at $1.4 billion from billionaire investor Nelson Peltz. The fast-food chain argued that the offer undervalues its long-term growth potential, prompting the adoption of a shareholder rights plan. This defensive strategy is designed to protect the company from unwanted acquisition attempts. Wendy's has been facing declining sales and rising operational costs in the competitive fast-food market.