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 this week, citing Dow Jones.
The company's shares rose 7% to $38.32 in afternoon trading on Tuesday August 28.
Earlier this month, Reuters reported that Chinese investment firm Hillhouse Capital Group was planning to lead a consortium to buy Yum China.
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