Apollo Global Management and Qatari investment fund Irth Capital have made a joint bid to take Papa John's International private, valuing the pizza chain at approximately $2 billion. The proposed offer, reportedly in the low $60s per share range, represents a premium over the recent trading price, which led to a trading halt for Papa John's shares. The deal marks a resurgence of merger and acquisition interest in the company, with analysts noting that the buyout talks have fueled recent stock momentum. Irth Capital currently holds about 5% of Papa John's and has experience in the food and retail sectors, while Apollo brings significant private equity expertise. Market speculation suggests the potential plan post-acquisition could involve supply chain optimization, regional chain roll-ups, and a possible exit to Domino's within three years. The announcement follows a period of increased bullish options activity on Papa John's stock. Separately, Casey's General Stores reported strong Q4 results with a 12.4% increase in earnings per share to $2.63 and an 11% rise in revenue to $3.99 billion, driven by robust performance in hot sandwiches, bakery, and fuel profits, alongside a 14% dividend increase to $0.57 per share.