YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The board of Papa John’s International Inc. voted to adopt a so-called poison-pill plan in an attempt to ward off potential takeovers by founder John Schnatter.
Schnatter, 56, remains a director and owns a 29 percent stake in the company.
The adopted plan is meant to “protect the interests of the company and its stockholders by reducing the likelihood that any person or group gains control of Papa John’s through open market accumulation or other tactics without paying an appropriate control premium,” company officials said in a statement.
Read more from Bloomberg.
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