a. Mon 3/9/26: #4; vol. 2.0M
A Wall Street Journal article, citing sources familiar with the matter, revealed that Qatari-backed Irth Capital Management—recently building a nearly 10% stake—submitted a bid to acquire the company at $47 per share, valuing it at approximately $1.5 billion with backing from Brookfield Asset Management. This represented a roughly 50% premium to the prior trading price around $31-32. Shares jumped nearly 19%, triggering a trading halt amid heightened volume, as investors reacted to revived M&A prospects following prior unmaterialized offers.
The move follows Irth’s attempt last year to buy Papa John’s alongside private-equity firm Apollo Global Management, though the talks ended without an agreement.
Irth was created in 2024 as a global asset manager. Headed by co-founders Sheikh Mohamed bin Abdulla Al-Thani and Matthew Bradshaw, it is supported by a member of the Qatari royal family.
A potential acquisition of Papa John’s would rank among Irth’s first major moves.
No comments:
Post a Comment