Nov. 11 at 7:00 PM
Papa John’s shares fell on Tuesday after a report suggesting the pizza chain was close to a privatization deal disappeared from the ABC Money website.
The stock had surged as much as 19% on Monday following a report by ABC Money UK claiming that a consortium led by TriArtisan Capital Advisors was nearing an all-cash acquisition offer of
$65 per share, valuing the company at about
$2.7 billion.
However, the article was later removed, prompting a reversal in the stock’s gains. A person familiar with Papa John’s told Bloomberg News that there were no ongoing discussions with TriArtisan, contradicting the original report.
$PZZA