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

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By Reuters
Yum China rejects Hillhouse buyout offer - CNBC, citing Dow Jones
The booth of fast food restaurant company Yum China Holdings Inc. is seen at an investment and trade fair in Hefei, Anhui province, China May 17, 2017. Picture taken May 17, 2017. REUTERS/Stringer   -   Copyright  CHINA STRINGER NETWORK(Reuters)

(Reuters) – Yum China Holdings Inc <YUMC.N>, the operator of KFC, Pizza Hut and Taco Bell restaurants in the world’s most populous country, has rejected a buyout offer of $46 (£35.7) per share from Hillhouse Capital, CNBC reported https://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)