Finance
Papa John’s: Report says private-equity firm no longer interested
AP
Papa John’s was plunging Tuesday afternoon following a report suggesting the private-equity firm Trian Fund Management is no longer interested in a deal.
Shares fell more than 12% after The Wall Street Journal reported Trian has pulled out of the bidding for the pizza chain and that no bidders were interested in buying the entire company. The WSJ did say that several private-equity firms were interested in partial stakes. Bain Capital, CVC Capital Partners, KKR & Co, and Roark Capital are among the other firms who have reportedly been linked to the pizza chain.
Papa John’s shares have had a difficult 2018, falling as much as 32% after founder John Schnatter resigned as chairman after it was discovered that he used a racial slur during a company conference call.
This story is developing…
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