00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A Qatari-backed investment fund has submitted a bid to take pizza chain Papa John's International
00:07Private, according to people familiar with the matter, according to the Wall Street Journal.
00:12The offer came from Earth Capital Management with backing from Brookfield Asset Management.
00:17Earth offered $47 per share, valuing Papa John's at around $1.5 billion and representing about
00:24a 50% premium to the share price before the bid was submitted.
00:28Papa John's had a market value of about $1 billion as of Tuesday's close.
00:32Papa John's is reviewing the offer.
00:34Earth attempted to acquire Papa John's last year with private equity firm Apollo Global
00:39Management, but the talks ended without an agreement.
00:42Earth recently increased its stake to about 10%.
00:44For all things money, visit Benzinga.com.
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