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Colonel Sanders Devouring Little Sheep Means 69% Gain: Real M&A

Anti-monopoly regulators are turning Yum! Brands Inc.’s acquisition of a chain of Mongolian hot-pot restaurants into the most profitable bet in China.

Little Sheep Group Ltd. has tumbled after saying last week that China’s Ministry of Commerce extended a review of Yum’s HK$4.4 billion ($573 million) takeover by two months. Little Sheep, which rose to within 25 cents of Louisville, Kentucky-based Yum’s HK$6.50-a-share bid, last week slumped 18 percent below that price, according to data compiled by Bloomberg.