Yum China said it does not endorse TRC Capital's unsolicited mini-tender offer and recommends that stockholders not tender their shares.
According to Yum China, TRC Capital has made many similar unsolicited mini-tender offers for shares of other public companies.
Yum China Holdings, with executive offices in Shanghai, China, is a licensee of Yum
Yum China also owns the Little Sheep and East Dawning concepts outright.
The appeals court also explained that the original affidavits provided to the magistrate judge were conclusory assertions that the documents were created in anticipation of litigation but Yum
was permitted to supplement the record and provide more concrete and detailed support for its work-product claim.
Earlier in 2009 Pershing had divested a stake in Yum
, the news agency added.
Brands Inc (NYSE:YUM) announced on Monday the approval by its board of directors of the previously announced separation of its China business, now owned by Yum China Holdings Inc (Yum China), from Yum
Brands' board has approved a distribution of one share of Yum China com' stock for each share of Yum
Yum China expects to begin trading 'regular way' as an independent company beginning 1 November 2016, on the New York Stock Exchange (NYSE) under the ticker symbol 'YUMC'.