"Qatari-backed investment fund Irth Capital has this month made a $47-per-share offer to buy pizza chain Papa John's International, marking a second takeover attempt after a previous bid alongside Apollo Global Management last year. The offer would value the company at $1.5bn."
"Irth already owns roughly 10 percent of the company, with half of its stake in derivatives. There is no certainty Papa John's will accept Irth's offer under review, and another bidder could emerge."
"Irth, established in 2024 and backed by a member of the Qatari royal family, is led by co-founders Sheikh Mohamed bin Abdulla Al Thani and Matthew Bradshaw. A deal for Papa John's would be among its first major transactions."
Irth Capital, a Qatari-backed investment fund established in 2024, has submitted a $47-per-share takeover bid for Papa John's International, valuing the company at $1.5 billion. This marks the second acquisition attempt by Irth, which already owns approximately 10 percent of Papa John's, with half its stake held in derivatives. The offer includes backing from Brookfield Asset Management and represents Irth's first major transaction. The bid follows Apollo Global Management's withdrawal of its $64-per-share offer in November. Papa John's stock surged nearly 20 percent upon news of the bid. No certainty exists regarding Papa John's acceptance, and competing bidders may emerge.
Read at www.aljazeera.com
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