Wendy’s stock rose 15% on Tuesday, after Nelson Peltz from Trian Fund Management, a long-time shareholder, said that the company is looking into possible transactions.

Current ownership of Mr. Peltz is 41,217.239 shares. This represents 19.24%.

To assist in their evaluation of the Company’s investment and potential transactions, the fund retained legal, financial and/or other consultants.

Wendy’s shares are down by 32% in the past year.