BREAKING NEWS

BREAKING NEWS

Trian Fund evaluates takeover bid for Papa John's - WSJ

Now Reading:

Trian Fund evaluates takeover bid for Papa John's - WSJ

Trian Fund evaluates takeover bid for Papa John's - WSJ
@ Copyright :
Rick Wilking(Reuters)
Text size Aa Aa

(Reuters) - Nelson Peltz' Trian Fund Management LP is evaluating a takeover bid for Papa John's International Inc <PZZA.O>, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The activist hedge fund recently contacted the pizza chain to collect information as it explores a possible bid, according to the report. https://on.wsj.com/2yavgV0

The world's third-largest pizza delivery company had reached out to potential acquirers for offers, Reuters reported last month.

Shares of the company were up 12.6 percent in extended trading.

Papa John's has come under pressure from founder John Schnatter, who resigned as chairman in July following reports that he used a racial slur on a media training conference call. Since then, Schnatter has been seeking ways to regain control.

Papa John's and Trian Fund did not immediately respond to requests for comment.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Cynthia Osterman)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.