August 28, 2018 / 4:50 PM / 3 months ago

Yum China rejects Hillhouse buyout offer - CNBC, citing Dow Jones

Aug 28 (Reuters) - Yum China Holdings Inc, the operator of KFC, Pizza Hut and Taco Bell restaurants in the world's most populous country, has rejected a buyout offer of $46 per share from Hillhouse Capital, CNBC reported bit.ly/2PKm14Y on Tuesday, citing Dow Jones.

The company’s shares rose 7 percent to $38.32 in afternoon trading.

Earlier this month Reuters reported that Chinese investment firm Hillhouse Capital Group was planning to lead a consortium to buy Yum China. (Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)

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