A Wendy's restaurant sign in Brampton, Ontario, on July 12, 2026.

Mike Campbell | Nurphoto | Getty Images

Wendy's on Thursday said it is rejecting a $1.4 billion takeover offer from a group of investors led by Nelson Peltz's Trian Fund Management.

The group offered $7.35 per share in cash on Oct. 28 to take the struggling burger chain private . In addition to Trian, it included investment firms BlueFive Capital and Sixth Street Partners, plus Flynn Group, one of Wendy's largest franchisees.

In February, Wendy's board formed a committee of independent directors to assess any potential bid from Trian in response to a regulatory filing from the firm.…