Pizza Scandal May Have Killed Big Fast-Food Merger

Papa John's and Wendy's were talking before John Schnatter's mess
By Arden Dier,  Newser Staff
Posted Jul 19, 2018 1:11 PM CDT
Pizza Scandal May Have Killed Big Fast-Food Merger
Papa John's founder John Schnatter attends a meeting in Louisville, Ky, in October 2017.   (AP Photo/Timothy D. Easley, File)

The fallout from a scandal involving Papa John's founder is still being felt, with reports now suggesting the world's third-largest pizza-delivery company missed out on a possible merger. Per the Wall Street Journal, John Schnatter held preliminary merger talks with executives from Wendy's before a scandal erupted over his use of a racial slur. A source tells the Journal the talks have since "cooled." CNBC goes further, saying the talks have stopped altogether, with no deal imminent. Still, Papa John's shares rose as much as 6% with the news, per Business Insider. Schnatter retains a 30% stake in the company, and that pushed his stake to about $510 million. (Read more Papa John's stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.