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What's Underway at Papa John's; Data Management Gets M&A Attention -- ICYMI

Michael Brown

, sources tell The Deal's Ron Orol. Activist Legion Partners has launched a campaign at Papa John's, through an activist 13D filing, where the California-based manager reported owning 5.46% stake urging the company to franchise more and consider "strategic partnerships." The new campaign emerges after Papa John's ousted its founder, John Schnatter, in July, from his chairman role at the company, for using a racial slur on a media training conference call. Unlike most activist campaigns, which normally seek to drive sales of companies they target, Legion appears to be working more constructively with management to help fend off any hostile bid from Schnatter.