Domino’s executive chairman Jack Cowin has dismissed a report about a potential takeover of the Australian pizza chain by US private equity giant Bain Capital as “pure speculation”.

The $1.7 billion fast food company’s share price skyrocketed by as much as 23 per cent on Tuesday morning, and was up 17.4 per cent when it was halted from trade at 11.22am AEDT. The Australian Financial Review’s Street Talk column had reported that Bain was looking at a deal to acquire part or all of ASX-listed Domino’s business, citing unidentified people briefed on the matter.

Following the company’s official dismissal of the report in response to a “speeding ticket” from the ASX, the stock pared its gains when it resumed trading in the afternoon, and was up just 2.7 per cent at $15.87 shortly after 3p

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