Papa John's jumps following reports of Apollo-backed takeover bid

ReutersJun 11, 2025 8:21 PM

Papa John's shares PZZA.O jump nearly 12% to $53.89 on Wed following reports that Apollo and Irth Capital are in talks to acquire the pizza chain

The investment firms' joint bid would value PZZA at $60 per share, according to a Reuters report. Semafor was the first to report the deal, saying the joint bid valued the pizza chain at about $2 bln

PZZA was briefly halted following the report and rose to $55.47 on the session, its highest since Nov 8, and was on track for biggest daily pct gain since early May

Among 16 analysts that cover PZZA, avg rating is "BUY" and median PT is $47.50

PZZA is up ~30% YTD with today's move

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