It may be deja vu all over again for Nelson Peltz and Wendy's

Nelson Peltz must love those square burgers and Frosties. Fourteen years after buying Wendy’s, the activist investor has alerted federal regulators that he’s interested in acquiring the burger chain again.

If past is prologue, it’ll likely be a rollercoaster ride for investors, staff and any other stakeholder, as this week’s Restaurant Rewind podcast reports. Host and Restaurant Business Editor-at-Large Peter Romeo looks back at the war of communications that raged over about a two-year stretch, with Peltz formally rebuffed at least twice.

The particulars are clearly different this time around. For one thing, Peltz already owns about 20% of Wendy’s stock, or more than twice as much as he controlled back in 2008. Forcing Wendy’s to make an acquisition also appears to be a possibility this time, as the podcast notes.

The session also notes that Peltz lacks the sort of boardroom foil who made his last run such a grabber.