Trian Partners, led by activist investor Nelson Peltz, said this week it is aiming to gain control of the board of Wendy’s, which the firm also hopes to buy, Reuters reports.
Trian Partners has said in a regulatory filing that it notified Wendy’s of its intentions to expand the board and to nominate director candidates at the hamburger chain’s annual shareholder’s meeting this year, according to Reuters.
Meanwhile, Peltz’s Triarc Cos Inc, which owns Arby’s, said last fall that it made a bid for Wendy’s that was below $37 a share to $41 a share it prepared to offer in July.
Sprint Nextel has added activist investor Ralph Whitworth to its board, giving him greater influence over the major strategic decisions the struggling company is facing, according to the Wall Street Journal.
Whitworth, who owns roughly a 2-percent stake in the company through his company, Relational Investors, threatened a proxy fight against the company last fall if the management did not make vast improvements. He also set his sights on ousting former CEO Gary Forsee from the company in October.
“I look forward to assisting my fellow board members to rebuild shareholder value,” Whitworth said in a statement. “A turnaround at Sprint Nextel won’t be easy, but I believe the ingredients are in place to get the job done for the company’s shareholders. I am encouraged by the company’s new CEO, Dan Hesse. Dan has committed to review all aspects of the company’s business and shown a willingness to make tough decisions.”