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Papa John’s reviews $1.5 billion takeover bid from Qatari-backed fund

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Papa John's reviews $1.5 billion takeover bid from Qatari-backed fund

Papa John’s International is reportedly reviewing a new proposal to take the company private in a potential $1.5 billion acquisition, according to Reuters. 

Irth Capital Management, a Qatari-backed investment fund supported by Brookfield Asset Management, reportedly submitted the proposal on Wednesday, offering $47 per share, a 44% premium over the stock’s most recent closing price.

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Following the announcement, the stock surged by a significant 15%, closing around $38.86. 

The bid comes after Papa John’s has been pursuing a turnaround strategy following years of weak demand under multiple CEOs.

BAHAMA BREEZE TO CLOSE ALL ITS RESTAURANTS

Papa John's

Papa John’s International Inc. signage is displayed on top of a delivery vehicle. (Luke Sharrett/Bloomberg via Getty Images / Getty Images)

Irth Capital, a relatively new firm founded in 2024 and backed by a member of the Qatari royal family, reportedly already holds about a 10% stake in Papa John’s

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Led by co-founders Sheikh Mohamed bin Abdulla Al-Thani and Matthew Bradshaw, the firm is working alongside Brookfield Asset Management on a high-stakes offer that, if successful, would mark one of Irth’s first major transactions, Reuters said.

Ticker Security Last Change Change %
PZZA PAPA JOHN’S INTERNATIONAL INC. 38.86 +6.32 +19.42%

The potential acquisition would become one of the firm’s first major deals, following a period of financial recovery and previous failed buyout attempts by other investors, including Apollo Global, which had partnered with Irth last year on a joint offer exceeding $60 per share.

RESTAURANT GIANT FILES FOR BANKRUPTCY UNDER MASSIVE DEBT SHORTLY AFTER TOUTING MAJOR EXPANSION

Papa John's Dragon Flame Pizza with garlic sauce

Papa John’s Dragon Flame Pizza is seen in an advertisement. (Papa John’s)

Mounting speculation about the company’s future has also prompted activist investor Irenic Capital Management to build a stake in the pizza chain, according to the outlet. 

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While the bid is significant, there is no guarantee of an agreement as the pizza giant remains open to other potential buyers. 

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Papa John Schnatter

Papa John Schnatter is the founder and former chairman and CEO of Papa John’s International (PZZA).

Papa John’s has previously struggled with weak consumer spending and tough competition in the pizza industry, specifically among North American restaurants.

In the last quarter, the company reported a 5.4% drop in North American same-store sales. To improve profitability, it announced plans to close roughly 300 underperforming restaurants in the region by the end of 2027.

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Reuters contributed to this report.

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UBS Global Consumer and Retail Conference

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

UBS Global Consumer and Retail Conference

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a.k.a. Brands Holding Corp. (AKA) Presents at UBS Global Consumer and Retail Conference Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q4: 2026-03-05 Earnings Summary

EPS of -$1.35 misses by $0.54

 | Revenue of $163.95M (3.10% Y/Y) misses by $501.80K

a.k.a. Brands Holding Corp. (AKA) UBS Global Consumer and Retail Conference March 11, 2026 4:00 PM EDT

Company Participants

Ciaran Long – Chief Executive Officer

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Conference Call Participants

Jay Sole – UBS Investment Bank, Research Division

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Presentation

Jay Sole
UBS Investment Bank, Research Division

All right. Well, hello again. I’m Jay Sole, UBS’ retailing department stores and specialty softlines analyst. And welcome again to the 2026 UBS Global Consumer and Retail Conference. Really excited to have a.k.a. Brands here again to talk to us. I have to say that there’s a very big fan in my household of Princess Polly and it’s my 15-year-old she loves it. So I think that…

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Ciaran Long
Chief Executive Officer

We appreciate your 15-year-old and we appreciate you and your credit card.

Jay Sole
UBS Investment Bank, Research Division

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That’s right. So…

Ciaran Long
Chief Executive Officer

It’s great for us.

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Question-and-Answer Session

Jay Sole
UBS Investment Bank, Research Division

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So there’s a really good story here. And I think that we are going to dive into a little bit. But maybe just before we kind of dig into some of the nuances of why my kid loves your brand. Let’s just talk about high level the business model. It gives us a little bit of overview for anybody who might not be totally up to speed on the company and what you guys do, just maybe start there.

Ciaran Long
Chief Executive Officer

Thanks for having me. Delighted to be here. Yes. So at a.k.a., we’re a group of next-generation fashion brands, very much focused on that Gen Z millennial consumer. We started off all of the brands very much direct to consumer. And over the last couple of years, we started bringing the brands into wholesale, into stores and really just putting product in front of customers wherever they are, certainly, very early days as

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Atmos Energy: A Stable Income Growth Stock In Uncertain Times (NYSE:ATO)

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Atmos Energy: A Stable Income Growth Stock In Uncertain Times (NYSE:ATO)

This article was written by

Over fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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General Motors recalls over 17,000 vehicles due to crash risk defect

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General Motors recalls over 17,000 vehicles due to crash risk defect

General Motors has issued a recall affecting more than 17,000 vehicles over a rear toe link fracture that increases the risk of a crash.

The recall from General Motors applies to about 17,050 Buicks due to a rear toe link fracture that can cause loss of vehicle control, increasing the collision risk, the National Highway Traffic Safety Administration (NHTSA) said in a recall report.

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Certain 2012–2013 Buick Regal Turbo and GS trim-level vehicles that were sold or registered in more than 20 “high corrosion” states are included in the recall. More specifically, about 4,751 2012 Buick Regals and about 12,299 2013 Buick Regals.

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2012 Buick Regal

The recall from General Motors applies to about 17,050 Buicks due to a rear toe link fracture that can cause loss of vehicle control. (Steve Fecht/General Motors via Getty Images / Getty Images)

The “high corrosion” states include Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia and Wisconsin.

Vehicles in Washington, D.C., were also included.

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Buick Regal GS parked outside of a car dealership

About 4,751 2012 Buick Regal vehicles and about 12,299 2013 Buick Regal models were included in the recall. (Getty Images / Getty Images)

Only about 1% of the vehicles included in the recall may have a defect, which was caused by a supplier’s failure to properly apply corrosion protection.

General Motors said no injuries have been reported in connection with the issue that triggered the recall, which was submitted on Tuesday.

TOYOTA RECALLS 550,000 VEHICLES OVER SEAT DEFECT

GM HQ

General Motors said no injuries have been reported in connection with the issue that triggered the recall. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images)

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General Motors dealerships will replace the rear suspension toe links and adjuster fasteners at no cost. Owner notification letters are expected to be mailed on April 13.

The recall expands on multiple others the automaker has filed since late last month about the same issue.

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Oil hits $100 a barrel despite deal to release record amount of reserves

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Oil hits $100 a barrel despite deal to release record amount of reserves

It comes as Iranian attacks on ships intensify in the crucial Strait of Hormuz waterway.

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US stock market remains calm, even as oil prices rise

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US stock market remains calm, even as oil prices rise

The US stock market remained calm Wednesday, even as the price of oil got back to rising.

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St George signs MOU with Brazilian firm

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St George signs MOU with Brazilian firm

Three days after being added to the ASX All Ordinaries, rare earths developer St George Mining has taken another key step at its flagship Brazilian project.

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Rates Spark: Inflation Expectations On The March Again

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Rates Spark: Inflation Expectations On The March Again

Rates Spark: Inflation Expectations On The March Again

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LAX approves rideshare fee hike for companies like Uber, Lyft

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LAX approves rideshare fee hike for companies like Uber, Lyft

If you take an Uber or Lyft from Los Angeles International Airport (LAX), your ride could soon cost more.

The Los Angeles Board of Airport Commissioners on Tuesday approved an increase in rideshare fees, raising the charge from $4 to as much as $12 per trip, a move Uber is warning will affect both riders and drivers, FOX 11 reported.

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Under the new plan, rideshare vehicles will pay a $6 base fee to enter LAX. An additional $6 fee will apply for pickups or drop-offs at the airport’s Central Terminal Area, according to FOX 11.

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Travelers wait at Los Angeles International Airport

Travelers wait for rideshare pickups at the LAX-it rideshare pickup location at Los Angeles International Airport March 10, 2026, in Los Angeles.  (Justin Sullivan/Getty Images / Getty Images)

Right now, rideshare companies pay about $4 per pickup or drop-off. Taxi companies pay $4 for pickups, while limousines pay $5. Taxis and limos are not charged for drop-offs, according to FOX 11.

Airport officials say the higher fees are meant to reduce traffic congestion and encourage travelers to use the airport’s new SkyLink automated people mover once it opens, according to ABC7 Los Angeles.

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“To be able to be dropped off there will be a $2 increase to the rideshare companies,” Vanessa Rodriguez, deputy executive director of external affairs at Los Angeles World Airports, told ABC7 Los Angeles. 

“As the new front door to the airport, essentially a traveler will be able to get on the SkyLink train and do the full loop of the horseshoe in 10 minutes.”

UBER PARTNERS WITH CHINESE TECH GIANT TO ROLL OUT DRIVERLESS VEHICLES ACROSS MULTIPLE GLOBAL MARKETS

Cars outside LAX

Vehicles at LAX in Los Angeles June 29, 2023.  (Brittany Murray/MediaNews Group/Long Beach Press-Telegram via Getty Images / Getty Images)

However, Uber says the fee will be passed directly on to all travelers and would be nearly triple the $4.24 average across major U.S. airports.

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“The board’s decision significantly increases the cost of getting to and from LAX,” Danielle Lam, head of local California policy at Uber, told FOX Business in an email. “A 140% fee hike will directly impact riders and reduce demand for drivers who rely on airport trips.”

Higher passenger fees usually reduce demand for airport trips, limiting drivers’ earning opportunities. The proposed LAX fee increase could result in approximately $1,000 in lost earnings per driver each quarter, according to Uber.

UBER ANNOUNCES FEATURE ALLOWING WOMEN TO SELECT FEMALE PREFERENCE FOR RIDERS, DRIVERS

Ride-sharing companies Uber and Lyft are threatening to leave Minneapolis over a new mandate guaranteeing a minimum wage for drivers.

The Uber and Lyft logos on a sign. (Smith Collections/Gado via Getty Images / Getty Images)

“We support investments that improve the airport experience, but they must be transparent and balanced,” Lam added.

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Los Angeles World Airports and Lyft did not immediately respond to FOX Business’ request for comment.

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Form 13D/A BJs RESTAURANTS For: 11 March

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Form 13D/A BJs RESTAURANTS For: 11 March

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