Stock of Papa John's experiences surge following rumors of potential privatization endeavor
Hear ya, folks! Papa John's could be getting snatched up by private hands 🔥
Get ready for some tasty gossip! The pizza chain, Papa John's International (PZZA), might be swapping public life for the cozy confines of private ownership. 🍕
According to the spill from Semafor, heavy-hitting asset managers, Apollo and Irth Capital Management, are in the ring to whiskey-tango-foxtrot Papa John's in a deal estimated to be worth a cool $2 billion23
Now, brace yourself! The current market cap of Papa John's is a snazzy $1.6 billion according to Visible Alpha, which puts the proposed deal at a delicious $1.7 billion for the company itself and an extra $1.3 billion factoring in the, ahem, debt![1][2][3]
But here's the kicker: the stock finished the session up 7.5%, soaring as high as 15% earlier in the day and dancing at its highest level since November![1][2]
Now, pockets of the royal family of Qatar, the ever-powerful Apollo, and Papa John's themselves, haven't returned our ever-so-friendly requests for a comment on this juicy news. So, we're left to speculate whether this is the real deal or just a wicked rumor! 🤷♂️
Remember Papa John's reported a not-so-hot Q1 with North American sales dipping year-over-year back in May![4] But hey, their shares have been on a roll this year, gaining over a quarter in value and soaring off April lows![4]
So, let's put our pizza pie dreams on hold and keep our eyes peeled for any updates on this juicy deal!‼️
Got some exciting insider tips? Let us know at our website! 💌
Info Source:1. Semafor.com2. CNNTurk.com3. BostonGlobe.com4. Yahoo Finance, Papa John's Q1 2023 Earnings Report
In the realm of finance, the potential ICO (Initial Coin Offering) for Papa John's International could be a significant event, given the rumors of a takeover by private equity firms like Apollo and Irth Capital Management, which, if true, could impact investing strategies for businesses. The recent rise in Papa John's stock price, despite a reported decrease in Q1 sales, suggests that the market cap of this pizza giant might exceed the proposed $2 billion deal value.
