Trian, led by Peltz, is in talks to raise funds for the privatization acquisition of Wendy's.

Reports indicate that Trian has held discussions with external investors, including those in the Middle East, to secure funding for a potential Wendy’s acquisition. In 2022, Peltz considered making a potential takeover offer for the burger chain. In February this year, he stated that Wendy’s stock price was undervalued and added that he had communicated with potential financing parties regarding possible deals, including a buyout or other major transactions. Peltz currently holds a 16.24% stake in Wendy’s, up from 16.09% in July last year. The investment firm’s shareholding has also increased from 7.78% in July last year to 7.85%.