Wendy's Arby's Group Ticking Higher On Renewed Takeover Chatter (WEN)

Shares of Wendy's Arby's Group WEN moved higher on heavy volume this morning after renewed buyout speculation. The rumors that we are hearing are that Cerberus Capital Management may be interested in acquiring the fast food chain in a $3 billion all cash deal that would value the company at around $8 per share.

On June 12, it was reported that Nelson Peltz's Trian Fund Management was approached by a third party about the possibility of participating in a takeover of the company. Trian has said it is considering the inquiry and other alternatives. Trian and its affiliates hold about 23.6 percent of Atlanta-based Wendy’s/Arby’s.

During today's trading session, WEN has moved 1.94% higher to $4.20. More than 11 million shares have traded hands compared to a daily average of 5.33 million.