BUZZ-Papa John's up after report Qatari-backed investment firm to take company private
ReutersFeb 13, 2025 7:28 PM
Shares of pizza chain operator Papa John's International PZZA.O up ~16% at $50.27 in the afternoon trade
Qatari-backed investment firm Irth Capital Management is eyeing to take PZZA private in a bid for $1.4 billion, Semafor report says, citing people familiar with the matter
Report adds, Irth disclosed 4.99% position in PZZA last year
Papa John's and Irth Capital Management did not immediately respond to Reuters' requests for comment
PZZA has been grappling with persistent weakness in demand, despite taking efforts to increase advertising investments
PZZA is scheduled to report its fourth-quarter results on February 27
PZZA fell about 46% in 2024
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