Financial Wire

Market Chatter: Yum! Brands, Papa John's Advancing Sale Processes for Pizza Chains

-- Yum! Brands (YUM) continues to proceed with the sale process for its Pizza Hut chain, while Papa John's International (PZZA) remains in talks over a potential takeover, Reuters reported Wednesday, citing sources familiar with the matter.

Three sources told Reuters that Yum! Brands set a deadline this week, seeking formal bids for Pizza Hut. Interested parties include Apollo Global Management (APO), Sycamore Partners, and LongRange Capital, but there is no guarantee that the firms will submit their offers, the sources added.

Meanwhile, two sources told the newswire that Papa John's remains in talks with Irth Capital over a potential acquisition, with a due diligence underway over the past month. Irth Capital had offered to acquire the company for $47 a share in March, according to the report.

Yum! Brands, Papa John's International, Apollo Global Management, and Irth Capital did not immediately respond to' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $161.10, Change: $-0.47, Percent Change: -0.29%

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Market Chatter: Yum! Brands, Papa John's Advancing Sale Processes for Pizza Chains | Financial Wire