WEN - Papa John's pops on takeover rumors

Papa John’s (NASDAQ:PZZA) stock gained on Wednesday as Trian’s move for Wendy’s (WEN) sparks rumors about restaurant M&A.   On Tuesday evening, Wendy’s largest shareholder in the Nelson Peltz-led Trian proposed an acquisition of the fast-food chain. While Wendy's said in a statement that it will "carefully" review any proposal submitted by Trian, the market is apparently considering competitors that might also court takeover interest. “[Papa John’s] (PZZA) has been discussed as a potential acquisition target for years, and at a market cap of $2.8 billion and net debt of $450 million, a deal would likely be attainable for a large number of buyers,” Credit Suisse analyst Lauren Silberman wrote in a note to clients on Wednesday. “[Papa John’s] (PZZA) could benefit from synergies gained from multiple brands, access to large, well capitalized franchisees from sister brands and a wider network of international franchisees to accelerate the brand’s presence globally.” Wendy's

For further details see:

Papa John’s pops on takeover rumors