Top Restaurant Chain Closing?

This was surprising!

In a new filing with the Securities and Exchange Commission, Wendy’s chairman Nelson Peltz said that the company is now looking to either sell the business entirely or merge the burger chain with another business.

According to CNN, Wendy’s (WEN) stock shares surged by 11% Wednesday morning and investors celebrated the new announcement by Peltz.

In a statement Wendy’s said, “The Board will carefully review any proposal submitted by Trian Partners. We remain focused on achieving our vision of becoming the world’s most thriving and beloved restaurant brand.”

While many investors are praying that an acquisition of Wendy’s does occur, others don’t believe it will happen very easily.

Cowen restaurant analyst Andrew Charles explained, “We believe a sale of Wendy’s may not be straightforward because of the strength of its competitors.”