QUICK LINKS:

Burger King buying Tim Hortons for about $11B

Created: 08/26/2014 8:06 AM WHEC.com
By: Associated Press

Burger King is buying Canadian coffee-and-doughnut chain Tim Hortons Inc. for about $11 billion, creating the world's third-largest fast-food company.
    
The corporate headquarters of the new company will be in Canada, a move that may help Burger King lower its taxes. Burger King will still run its business out of Miami.
    
Burger King Worldwide Inc. will pay $65.50 Canadian ($59.74) in cash and 0.8025 common shares of the new company for each Tim Hortons share. This represents total value per Tim Hortons share of $94.05 Canadian (US$85.79), based on Burger King's Monday closing stock price. Alternatively, Tim Hortons shareholders may choose either all-cash or all stock in the new company.
    
Tim Hortons stock rose more than 10 percent in Tuesday premarket trading. Burger King's shares fell slightly.





News10NBC/WHEC-TV welcomes your opinion and interaction on our website, but please remember to keep it clean. If you're advertising for another business, being profane, vulgar or slanderous your post will be deleted. By commenting on this website, you agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use. Comments are not pre-screened before they posted.

Rochester

Overcast
50°
52° | 44°
  • Feels like: 50° F
  • Wind: N 8mph
  • Humidity: 71%
  • Thu Showers ending by midday
    55° | 43°
  • Fri Plenty of sun
    59° | 44°
  • Sat Chance of showers
    62° | 48°
  • Sun Windy, and mainly cloudy
    49° | 41°