Apollo pulls $2.1bn Papa John's take-private bid

Apollo retracts takeover proposal for Papa John’s

Global alternative asset management firm Apollo Global has withdrawn its proposal to take Papa John’s private at $64 per share.The post Apollo retracts takeover proposal for Papa John’s appeared first on Verdict Food Service.

Apollo pulls $2.1bn Papa John's take-private bid

Private investment giant Apollo Global Management has withdrawn its $2.1bn offer to acquire pizza chain Papa John’s International at $64 per share, according to a report by Reuters citing people familiar with the matter. The move came ahead of the company’s third-quarter earnings release showing continued pressure on margins and slowing consumer demand. The private equity firm reportedly pulled the bid last week, reflecting broader caution in th…