Billionaire investor Nelson Peltz makes move to buy struggling Wendy's

Wendy's (WEN) may be cooking up burgers for a billionaire soon. Longtime Wendy's investor and former chairman Nelson Peltz of Trian Partners has reportedly offered $1.4 billion to buy the struggling fast food giant, according to the Wall Street Journal. Wendy's shares rose 15% in premarket trading. The company's market cap was $1.17 billion prior to the deal. A Wendy's spokesperson didn't return a request for comment. A spokesperson for Trian Partners didn't return a request for comment. Billionaire Peltz — while familiar with the operations — would essentially be buying a dumpster fire. After nearly two years of struggles competing with the likes of behemoths McDonald's (MCD) and Yum!