Key Takeaways

Nelson Peltz, Nicola Peltz’s billionaire father, offered $1.4 billion to take Wendy’s private, but its independent board committee unanimously rejected the bid as substantially undervaluing the chain.

Wendy’s adopted a one-year “poison pill” defense against a hostile takeover by Peltz’s group, which already controls roughly 16.3% of the company.

As restaurant closures mount and U.S. same-store sales decline, Peltz wants a private-market overhaul while CEO Bob Wright backs the existing “Dave’s Way” turnaround plan.

Nicola Peltz's billionaire father just tried to buy Wendy's for $1.4 billion. The fast-food chain's response? Not enough money—and don't try taking it over, either.

According to The Associated Press , Nelson Peltz, the billionaire investor whose daughter Nicola is married to Brooklyn Beckham, had Wendy's independent board committee unanimously reject his $7.35-per-share offer.…