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Yum! Brands To Sell Pizza Hut In $2.7 Bln Deal, Plans $4 Bln Buyback; Shares Up
Yum! Brands, Inc. announced Tuesday its definitive agreement to sell its popular brand Pizza Hut in two separate deals for $2.7 billion in the aggregate, subject to certain purchase price adjustments. Further, the firm's Board of Directors approved an incremental $4 billion share repurchase authorization, which will be conducted with the net after-tax proceeds.
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