(Reuters) -Domino’s Pizza Enterprises on Tuesday denied receiving a takeover proposal from Bain Capital after a report said the private equity firm was looking at buying the whole or part of the Australian franchise operator. The Australian Financial Review said a potential deal could be worth up to A$4 billion ($2.60 billion), citing people familiar […]
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Australia’s Domino’s Pizza denies report of Bain Capital takeover bid
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(Reuters) -Domino’s Pizza Enterprises on Tuesday denied receiving a takeover proposal from Bain Capital after a report said the private equity firm was looking at buying the whole or part of the Australian franchise operator.
The Australian Financial Review said a potential deal could be worth up to A$4 billion ($2.60 billion), citing people familiar with the matter.
The Australian pizza chain operator had a market value of A$1.46 billion, as of Monday’s close, as per LSEG data.
Bain Capital did not immediately respond to a Reuters’ request for comment.
Shares of Domino’s Pizza Enterprises surged 23% to A$19.00 a piece in early trade before trading was halted.
After the franchise reporter denied the media report, shares gave up those early gains to trade only 3.7% higher at A$16.02.
Domino’s Pizza Enterprises runs the largest master franchise of the U.S.-based Domino’s Pizza in 12 countries across Asia, Europe, and Australia and New Zealand.
($1 = 1.5389 Australian dollars)
(Reporting by Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu)