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Papa John's reportedly weighs $1.5B buyout offer from Qatari royal family-backed firm

On HALO

2 hours ago

Papa John’s International is reportedly reviewing a new proposal to take the company private in a potential $1.5 billion acquisition, according to Reuters. Irth Capital Management, a Qatari-backed investment fund supported by Brookfield Asset Management, reportedly submitted the proposal on Wednesday, offering $47 per share, a 44% premium over the stock’s most recent closing price.Following the announcement, the stock surged by a significant 15%, closing around $38.86. The bid comes after Papa John’s has been pursuing a turnaround strategy following years of weak demand under multiple CEOs.BAH...