Overview

• Apollo Global Management submitted a renewed bid within the past week to acquire Papa John’s for $64 per share, according to people familiar with the matter.
• Papa John’s shares rose about 13% after hours Tuesday to roughly $54.80 and were up more than 10% in premarket trading Wednesday following the reports.
• Sources say the situation is fluid with no deal assured at this stage.
• Multiple activist investors are also evaluating potential bids for the pizza chain, creating possible competition for Apollo.
• Papa John’s and Apollo declined to comment on the reported approach.