Papa John’s will likely be sold in the next year, analyst says

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Papa John’s is a rare acquisition opportunity, according to one analyst.

Embattled pizza chain Papa John’s International Inc. will probably be bought out in the next year, forecasts Kalinowski Equity Research President Mark Kalinowski.

The Wall Street Journal reported Monday that Trian Fund Management LP is assessing a possible takeover bid, sending shares surging in after-hours trading. Shares closed Tuesday up nearly 9%.

Last week, activist investor Legion Partners and the California State Teachers’ Retirement System built up a stake in Papa John’s.

In August there were reports that the company had hired advisers to evaluate the options, but there was no discussion at the time about strategic alternatives or a sale.

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