Papa John’s shares plunged as much as 14 percent on a report that billionaire Nelson Peltz’s Trian Fund Management has dropped out of an auction…
Papa John’s shares plunged as much as 14 percent on a report that billionaire Nelson Peltz’s Trian Fund Management has dropped out of an auction of the pizza chain.
While some remaining bidders are interested in taking a stake in the embattled company, none are interested in buying all of it, the Wall Street Journal reported on Tuesday.
Papa John’s shares closed at $51.77, off 10.2 percent.
A source close to a bidding party told The Post last week that the auction had grown quiet, and suitors, at best, were going to make conditional bids.
