Chinese Restaurant Chain Approves US Takeover (YUM, MCD)
A chain of more than 450 Little Sheep restaurants scattered throughout China has agreed to a takeover offer made last April by Yum! Brands Inc. (NYSE: YUM). Yum, with more than 4,000 Pizza Hut and KFC stores in China, challenges…
A chain of more than 450 Little Sheep restaurants scattered throughout China has agreed to a takeover offer made last April by Yum! Brands Inc. (NYSE: YUM). Yum, with more than 4,000 Pizza Hut and KFC stores in China, challenges McDonald’s Corp. (NYSE: MCD) more than evenly in the country.
Yum previously owned about 27% of the Little Sheep chain. The cost of the acquisition has not been released. Little Sheep stock will cease trading on the Hong Kong exchange on January 12th.
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
