Burger King in talks to buy Tim Horton's - WSJ
NEW YORK Aug 24 (Reuters) - Burger King Worldwide is in talks to buy Canadian coffee and doughnut chain Tim Horton's, according to the Wall Street Journal, in a deal that would be structured as a tax inversion to move the hamburger chain's domicile out of the United States.
Citing people familiar with the matter, the Journal said the two companies are working on a deal to create a new holding company based in Canada and could be struck soon, although more details on the timing could not be learned.
Recent attempts by companies for tax inversion deals, which are made to escape U.S. taxes, save money on foreign earnings and cash held outside the U.S. have come under fire from some politicians, including President Barack Obama. (Reporting by Chuck Mikolajczak)
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Suspect in Pennsylvania police ambush captured after seven-week manhunt |
- Global shares jump, yen slumps as BOJ cranks up stimulus |
- Japan's central bank shocks markets with more easing as inflation slows
- Special Report: Tsunami evacuees caught in $30 billion Japan money trap