5 Takeover Rumors Targeted By Short Sellers

In this article, we will list the 5 Takeover Rumors Targeted By Short Sellers. Please visit 12 Takeover Rumors Targeted By Short Sellers if you’d like to see an extended list and our methodology.

5. Papa John’s International, Inc. (NASDAQ:PZZA)

Short Percentage of Float: 12.62%

Papa John’s International, Inc. (NASDAQ:PZZA) is one of the takeover rumors targeted by short sellers.

On April 15, 2026, Papa John’s shares jumped about 5.7% after Reuters reported that the pizza chain was in advanced discussions with Qatari-backed Irth Capital on a potential take-private deal. According to the report, Irth had been conducting due diligence for about a month, and some investors believed a deal could be reached before Papa John’s scheduled May 7 earnings report, though no agreement was guaranteed.

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That update built on an earlier March 11 report that Irth had offered about $47 per share, valuing Papa John’s at roughly $1.5 billion. Reuters said the bid followed an earlier 2025 approach in which Apollo Global Management and Irth had offered more than $60 per share before that effort fell apart. Papa John’s stock surged nearly 20% on the March 11 report, showing how quickly takeover chatter could reprice a battered consumer brand.

The interest landed against a soft operating backdrop. In its February 26, 2026, results, Papa John’s said fourth-quarter North America comparable sales fell 5%, while full-year adjusted EBITDA came in at $201.1 million, down from $227 million a year earlier. That does not guarantee a deal, but it helps explain why a recognizable brand with weaker recent momentum could look more attractive to financial buyers than to public-market investors.

Papa John’s International, Inc. (NASDAQ:PZZA) operates and franchises pizza restaurants across domestic and international markets.