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Qatari-backed Irth Capital offers $47/share to take Papa John's private, valuing it at $1.5B, sparking share surge.
A Qatari-backed investment firm, Irth Capital, has offered $47 per share, valuing Papa John's at $1.5 billion, to take the pizza chain private, according to multiple sources.
The bid, which represents a significant premium over the stock's recent price, comes after a previous failed attempt with Apollo Global Management and follows a period of declining sales and store closures.
Irth, which already holds a 10% stake, is backed by Qatari investors and Brookfield Asset Management.
The offer has caused Papa John's shares to surge, but the company has not confirmed acceptance, and no final agreement is in place.
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Irth Capital, respaldado por Qatar, ofrece $ 47 / acción para tomar a Papa John's en privado, valorándolo en $ 1.5B, lo que provocó un aumento en las acciones.