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Wendys rejects buyout bid and girds itself for a hostile takeover campaign

Wendy’s rejected a $1. 4 billion buyout offer from an activist investor, saying Thursday that the bid was too low and didn't take into account the company's long-term earnings potential under its new CEO. The Dublin, Ohio-based burger chain also said Thursday that its board had adopted a “poison pill” plan designed to make it more difficult to engineer a hostile takeover of the company. Noted investor Nelson Peltz made an offer last week to buy the chain, which has been struggling with a...

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