Burger King signs deal to buy Canada’s Tim Hortons
Burger King Worldwide Inc (BKW.N) agreed to buy Canadian coffee and doughnut chain Tim Hortons Inc (THI.N) (THI.TO) in cash and stock to create the third-largest quick service restaurant group with sales of about $23 billion.
Tim Hortons shareholders will receive C$65.50 in cash and 0.8025 shares of the new company for every share they own, the companies said in a joint statement.
(Reporting by Ashutosh Pandey in Bangalore; Editing by Savio D’Souza)
Source: Reuters
