Peltz's Trian Fund says it will not pursue takeover bid for Wendy's

Trian Fund Management, run by activist investor Nelson Peltz, said on Friday it will not pursue a takeover of Wendy's Co , months after the company's largest shareholder said it was considering a potential bid for the burger chain.

A Wendy's sign and logo are shown at one of the company's restaurant in Encinitas, California May 10, 2016 . REUTERS/Mike Blake/File Photo

, months after the company's largest shareholder said it was considering a potential bid for the burger chain.Trian saidlast year it was exploring taking over Wendy's, either on its own or with others, almost two decades after Peltz invested in the company. The hedge fund in a filing said the company's move to return additional capital to shareholders through share repurchases and increased cash dividends "was the appropriate path to enhance shareholder value at this time."

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