Papa John's is surging after a report it held deal talks with Wendy's (PZZA, WEN)

Papa John's is surging Wednesday after news that its founder held talks with Wendy's for a potential merger. 
John Schnatter recently stepped down as chairman of the pizza chain after using a racial slur in a media training conference. 
The talks cooled down after news of the slur broke.
Watch Papa John's trade in real time here. 
Shares of Papa John's are surging 6.89% to $55.09 apiece Wednesday. This comes after news that the founder had held talks with Wendy's for a possible me