Equities

Reuters reports Papa John's seeks investment after abandoning outright sale

Reuters reports Papa John's seeks investment after abandoning outright sale

Shares of Papa John’s International Inc dropped as much as 6 percent after Reuters reported that the world’s third largest pizza delivery company is pursuing the sale of a stake in itself. It decided to do this because acquisition offers it received from private equity firms did not meet its valuation expectations. Any such deal would come amid a battle for control of Papa John’s with the chain’s founder John Schnatter, who owns about 30 percent of the company.


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