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Wendys rejects buyout bid from activist investor and adopts poison pill plan

Wendy’s rejected a $1. 4 billion buyout offer from an activist investor, saying Thursday that the bid was too low, and it adopted a “poison pill” plan that would make it more difficult to engineer a hostile takeover of the company. Shares of the struggling burger chain spiked 14% last Wednesday after noted investor Nelson Peltz made an offer to buy it. Shares rose more than 2% Thursday as the company reported a better than expected performance during the third quarter. The company said a...

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