Qatari fund proposes $1.5 billion acquisition of Papa John’s

Qatari-backed investment fund Irth Capital has made a $47-per-share offer to acquire Papa John’s International, valuing the company at $1.5 billion. This marks Irth’s second attempt to purchase the pizza chain, having previously partnered with Apollo Global Management. Irth currently owns about 10% of Papa John’s, and the stock surged nearly 20% following news of the bid. The outcome remains uncertain, with potential for other bidders to emerge.

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