Papa John's is plunging after report says private-equity firm is no longer interested

AP

Papa John's was plunging Tuesday afternoon following a report suggesting the private-equity firm Trian Fund Management is no longer interested in a deal.

Shares fell more than 12% after The Wall Street Journal reported Trian has pulled out of the bidding for the pizza chain and that no bidders were interested in buying the entire company. The WSJ did say that several private-equity firms were interested in partial stakes.

This story is developing...