Trian Fund Management is considering a takeover bid for pizza chain Papa John’s International.
The New York-based activist hedge fund is one of multiple bidders interested in the embattled pizza maker, according to The Wall Street Journal, citing sources familiar with the matter.
The Louisville, Kentucky-based Papa John’s (NASDAQ: PZZA) put itself up for sale following discord with founder John Schnatter. Schnatter is still on the board and owns 30 percent of the company’s shares.
