Papa John's up after report Qatari-backed investment firm to take company private
13/02/2025 19:28
** 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
(Reporting by Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com))