China extends review of Little Sheep takeover
- By Yang Xi
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China.org.cn, October 27, 2011
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Little Sheep runs a franchise of lamb hot-pot restaurants. [File Photo]? |
China's Ministry of Commerce has extended by 60 days its anti-trust review of Yum! Brands Inc.'s application to buy out Little Sheep Catering Chain Co., the Chinese hot-pot restaurant operator said Wednesday.
Yum! submitted the takeover application in late June. The review will now end Dec. 24.
The commerce ministry confirmed that the application review of Yum’s bid for Little Sheep had been extended, but gave no further explanation for the move.
In May, Yum! offered to take Hong Kong-listed Little Sheep Catering Chain private for HK6.50 a share in cash.
Little Sheep runs a franchise of lamb hot-pot restaurants. It listed on the Hong Kong Stock Exchange in 2008.
China's business press carried the story above on Thursday.
