Papa John's Shares Spike on Reports of Renewed Buyout Activity

Shares of Papa John’s International Inc. pared gains after founder John Schnatter denied reaching out to potential funders for backing to take the pizza chain private.

“John Schnatter has not reached out to or had any discussions with any private equity firm or any other entity about buying Papa John’s,” a spokesman for Schnatter said in an email. “Any such report about a potential transaction involving Mr. Schnatter is totally and completely false.”