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Papa John's and Wendy's Discussed a Merger and Stocks are Climbing

Founder John Schnatter was reportedly at the forefront of discussions before his departure

By Madeline LenaStaff Writer
4:16PM • 07/18/18

Papa John's and Wendy's stocks are on the rise after The Wall Street Journal reported the two franchise giants had entered into preliminary discussions about a merger before the pizza chain's founder, John Schnatter, stepped down last week.  Sources said Schnatter initiated talks, which cooled after he resigned as chairman due to his use of a racial slur on a conference call.

It is unclear whether talks will resume as Papa John's continues to distance itself from Schnatter, who currently remains a board member with a 29 percent ownership stake in the company. Both sides declined to comment to CNBC.

Read the full article here.

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