00:00Wendy's shares surged roughly 15 percent after investor Nelson Peltz's Tryon Fund Management
00:06offered to buy the burger chain for approximately $1.4 billion.
00:11The proposal values the company at $7.35 per share in cash and would take Wendy's private.
00:18The bid comes as the fast food chain faces pressure from sluggish sales and intense competition.
00:24Investors are now watching to see whether the company will accept the offer
00:28or pursue other options.
