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LouisvilleKY’s Papa John’s takes action to prevent a John Schnatter takeover

The following statement from Papa John’s International was released Sunday night regarding what media outlets are calling a “poison pill”:  LOUISVILLE, Ky.–(BUSINESS WIRE)–Papa John’s International, Inc. (NASDAQ: PZZA) today announced that its Board of Directors has approved the adoption of a limited duration stockholder rights plan (the “Rights Plan”) and declared a dividend distribution of one right (“Right”) for each outstanding share of common stock. The record date for such dividend distribution is August 2, 2018. The Rights Plan expires, without any further action being required to be taken by Papa John’s Board of Directors, on July 22, 2019. The adoption…