Papa John’s Surges After Report of Private Equity Interest

Papa John’s International Inc. shares jumped the most in a month after a report that Apollo Global Management Inc.and a Qatari investment fund, Irth Capital, have made an offer that would take the pizza chain private.

Papa John’s stock rose 7.4% in Wednesday trading in New York, the most since May 8. The stock had run up 17% for the year through Wednesday’s close, compared with a S&P Small Cap 600 Index decline for the period.

Semafor reported that Apollo and Irth’s proposal would value Papa John’s near its current market capitalization, citing people familiar with the matter. The ...