Burger King Signs Deal To Buy Canada’s Tim Hortons
Burger King Worldwide Incorporated agreed to buy Canadian coffee and doughnut chain Tim Hortons Incorporated in cash and stock, to create the third-largest quick service restaurant group with sales of about $23 billion. The companies said in a joint statement that Tim Hortons shareholders will receive $65.50 Canadian (dollars) in cash and 0.8025 shares of the new company for every share they own.
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