Papa John’s International Inc. (NASDAQ: PZZA) is reportedly in advanced discussions to be acquired in an all-cash buyout by a consortium led by TriArtisan Capital Advisors. The proposed offer is approximately $65 per share, valuing the pizza chain at roughly $2.7 billion, according to people familiar with the matter.

While no agreement has been signed and talks could still fall apart, the offer would represent a premium of nearly 58% over the most recent closing share price.

Premium, Valuation, and Market Snapshot

Shares of Papa John’s recently closed around $41.20, which puts its market capitalization at about $1.36 billion based on those figures.

If the $65-per-share offer holds, the buyer group would be paying a significant uplift to secure the company, underscoring their convicti

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