Corvex slices US$800m Yum stake

摘要

Activist hedge fund Corvex Management sold more than half its stake in restaurant group yum brands in a nearly US$800m block trade last week, the latest in a flurry of sizeable stock sales using the unregistered format. Morgan Stanley bought the block and placed 12m Yum shares at US$66.55 each, the bottom of a US$66.55-$66.70 range and a 1.7% discount to last sale.