Trian Considers a Takeover Bid for Papa John’s

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Trian Fund Management LP is evaluating a takeover bid for Papa John’s International Inc., people familiar with the matter said.

The activist hedge fund recently contacted the pizza chain to collect information as it explores a possible bid, the people said. Trian is one of several parties to express interest since Papa John’s put itself up for sale amid an acrimonious fight with its founder, John Schnatter, who remains on the board and owns nearly 30% of the company’s shares.

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