Papa John's weighs $1.5B takeout offer from Qatar-backed firm. Irth Capital Management, supported by Brookfield Asset Management, submitted a proposal valuing the pizza chain at $47 per share, representing a 44% premium over recent closing prices. The stock surged 15% following the announcement. Irth, founded in 2024 and backed by a member of the Qatari royal family, already holds approximately 10% of Papa John's. This bid comes as the company pursues turnaround efforts after years of weak demand and declining same-store sales. The acquisition would mark one of Irth's first major transactions, though no agreement is guaranteed as Papa John's remains open to other potential buyers and competing offers.
