India, Nov. 5 -- The Wendy's Company (WEN) announced that the committee of independent directors of the Board has unanimously rejected the unsolicited, non-binding proposal from Trian Partners, Flynn Group LP, BlueFive Capital and Sixth Street Partners to acquire all of the outstanding shares of common stock of Wendy's not currently owned by the Investor Group for $7.35 per share in cash. The Independent Committee concluded that the Proposal substantially undervalues the company, and is not in the best interests of shareholders. The Independent Committee and management team are confident that, through the implementation of Dave's Way, the Strategic Plan, the company will deliver on its value potential.
The company also announced that the B...