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HONG KONG, May 13 (Reuters) - Shares of Chinese restaurant chain Little Sheep rose 27.36 percent as the stock resumed trading after Yum Brands Inc made a cash offer offer to take the company private.
Shares of Little Sheep were set to open at HK$6.28 on Friday, up 27.36 percent from the previous close.
Yum Brand, parent of the KFC, Taco Bell and Pizza Hut fast-food chains, planned to make a cash offer of HK$6.50 per share, or a 30 percent premium to its previous close, to buy out most of the shares of Little Sheep restaurants that it does not already own for up to HK$4.56 billion ($586 million). [ID:nL3E7GC4LW]
Reporting by Donny Kwok; Editing by Ken Wills