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Papa John's +4.3% as Legion says it may engage in talks

Published 10/01/2018, 06:10 PM
© Reuters.  Papa John's +4.3% as Legion says it may engage in talks
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  • In an SEC disclosure, Legion Partners says it may engage in talks with the board at Papa John's (NASDAQ:PZZA).
  • Shares of the pizza maker are up 4.3% after hours.
  • Legion is a holder of 5.46% of the company.
  • It says it may look for communications with management, the board and shareholders about issues including changing capitalization, ownership structure, makeup of the board and other topics.
  • Legion believes "the current market price does not reflect the Issuer's intrinsic value" and says it's encouraged by actions to move past recent controversies, saying "multiple potential paths to significantly higher valuations exist for the issuer through strategic partnerships or improving operations as a stand-alone company."
  • Now read: Chefs' Warehouse lower after BMO downgrade


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