Trian Fund Management pulls out of Papa John’s auction: Wall Street Journal

Trian Fund Management LP has pulled out of the bidding for Papa John’s International Inc, according to the Wall Street Journal. Some bidders remain interested in taking a stake in Papa John’s but none is currently considering buying the whole company, the story said. Binding offers for the pizza chain are due next week, the WSJ said. Papa John’s has attracted the interest of Bain Capital, CVC Capital Partners, KKR & Co, and Roark Capital, according to press reports.