Wendy’s stock goes up as Trian, her largest shareholder, explores a potential deal

A drive-thru window of a Wendy’s restaurant in Peoria, Illinois.

Daniel Acker | Bloomberg | Getty Images

Actions of by Wendy It was up about 15% in extended trading Tuesday after a filing revealed that hedge fund Trian Partners, its largest shareholder, is exploring a potential deal with the company.

Trian, along with its partners, owns a 19.4% stake in the burger chain and said it was seeking a deal to “increase shareholder value” that could include an acquisition or merger, according to the filing.

—Steve Kopack of CNBC contributed to this report.

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