Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
More
Papa John's reportedly weighs $1.5B buyout offer from Qatari royal family-backed firm
close
FOX Business Flash top headlines for March 11
Check out what’s clicking on FoxBusiness.com.
Papa John’s International is reportedly reviewing a new proposal to take the company private in a potential $1.5 billion acquisition, according to Reuters.
Irth Capital Management, a Qatari-backed investment fund supported by Brookfield Asset Management, reportedly submitted the proposal on Wednesday, offering $47 per share, a 44% premium over the stock’s most recent closing price.
Following the announcement, the stock surged by a significant 15%, closing around $38.86.
The bid comes after Papa John’s has been pursuing a turnaround strategy following years of weak demand under multiple CEOs.
BAHAMA BREEZE TO CLOSE ALL ITS RESTAURANTS
Papa John’s International Inc. signage is displayed on top of a delivery vehicle. (Luke Sharrett/Bloomberg via Getty Images / Getty Images)
Irth Capital, a relatively new firm founded in 2024 and backed by a member of the Qatari royal family, reportedly already holds about a 10% stake in Papa John’s.
Led by co-founders Sheikh Mohamed bin Abdulla Al-Thani and Matthew Bradshaw, the firm is working alongside Brookfield Asset Management on a high-stakes offer that, if successful, would mark one of Irth’s first major transactions, Reuters said.
The potential acquisition would become one of the firm’s first major deals, following a period of financial recovery and previous failed buyout attempts by other investors, including Apollo Global, which had partnered with Irth last year on a joint offer exceeding $60 per share.
RESTAURANT GIANT FILES FOR BANKRUPTCY UNDER MASSIVE DEBT SHORTLY AFTER TOUTING MAJOR EXPANSION
Papa John’s Dragon Flame Pizza is seen in an advertisement. (Papa John’s)
Mounting speculation about the company’s future has also prompted activist investor Irenic Capital Management to build a stake in the pizza chain, according to the outlet.
While the bid is significant, there is no guarantee of an agreement as the pizza giant remains open to other potential buyers.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Papa John Schnatter is the founder and former chairman and CEO of Papa John’s International (PZZA).
Papa John’s has previously struggled with weak consumer spending and tough competition in the pizza industry, specifically among North American restaurants.
In the last quarter, the company reported a 5.4% drop in North American same-store sales. To improve profitability, it announced plans to close roughly 300 underperforming restaurants in the region by the end of 2027.
Reuters contributed to this report.