** 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