Wendy's biggest shareholder says he won't proceed with plans to take the hamburger chain private.
, who owns or controls 19.35% of Wendy's shares through his private equity fund, Trian, and other affiliates, said in a regulatory filing Friday that Wendy's was taking the right steps to enhance shareholder value and that he is confident in the future of Wendy's.
Peltz said last May that he may be interested in buying the rest of the company as a way to boost the company's stock. He is currently involved in a fight for a seat on the board of Walt Disney as part of push of what he says are needed changes at the entertainment giant.
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