Wendy's jumps after report Peltz's Trian seeks funding for take-private bid

Shares of fast-food chain Wendy's WEN.O up ~10% at $7.41 premarket

Activist investor Nelson Peltz’s Trian Fund Management seeks investor backing for a bid to take Wendy's private, the Financial Times reported

Trian has held discussions with outside investors, including in the Middle East, about funding a potential takeover of Wendy's - FT report

Earlier this year, Peltz said in an SEC filing that Wendy's stock was undervalued

Wendy's said at the time its board would review any proposal from Trian Partners in line with its fiduciary duties, and said it was moving quickly on its turnaround plan to improve U.S. operations while growing internationally

Up to last close, stock fell nearly 19% YTD