
Wendy’s has been struggling with traffic to its restaurants lately, but its shares are zooming on continued interest from one longtime patron: Nelson Peltz. Peltz’s Trian Fund Management is working to put together an investor consortium that could bid for the Ohio-based burger chain, the Financial Times reported. Trian, a longtime Wendy’s investor that held around 16% of company shares as of earlier this year, in February said the firm had spoken to potential investors about strategic options, including potentially taking control of the chain and taking it private.

