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Wendy’s rejects buyout bid

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Wendy’s rejected a $1.4 billion buyout offer from investor Nelson Peltz.

The company announced that its board had adopted a “poison pill” plan designed to make it more difficult to engineer a hostile takeover of the company, according to The Associated Press.

Wendy's has struggled with high beef prices and aging stores, according to the report.

Read more from The Associated Press.

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