Apollo World Administration and Irth Capital Administration have approached Papa John’s Worldwide for a $2 billion deal that may take the pizza chain personal, two individuals acquainted with the matter mentioned Wednesday.
The funding companies’ joint bid would worth Papa John’s, the world’s third-largest pizza supply firm, simply above $60 per share, mentioned the individuals, who requested to not be recognized as a result of the deal is personal.
Semafor reported Apollo and Irth’s bid for the corporate earlier on Wednesday.
Papa John’s declined to remark. Apollo and Irth didn’t instantly reply to requests for remark.
Shares soared greater than 9% to $52.68.
