The largest shareholder of Dublin-basedWendy's Co. has backed off plans for an acquisition or merger.
Trian Fund Management LP and affiliated investors, which own 19.4% of the fast food chain, early last year said they were looking for a deal to improve shareholder value.
Friday, in a filing with the Securities & Exchange Commission, Trian said it was no longer pursuing such a deal, citing Wendy’s (Nasdaq: WEN) strong business moment and liquidity position.
Nelson Peltz, chairman of Wendy’s…
