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Papa John's Buying Back Shares From Starboard; Smith Resigns as Chairman >PZZA

Por: MarketWatch Business March 02, 2023

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Papa John's also said it has agreed to buy back nearly 2.18 million shares held by Starboard at $82.52 apiece, a 4% discount to Wednesday's closing price of $85.96, cutting the hedge fund's 7.8% stake to roughly 2%. Starboard made its investment in Papa John's as the pizza chain was suffering from declining same-store sales, which it attributed, in part, to controversies involving its founder and then-largest shareholder,... + full article



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