Burger King signs deal to buy Canada's Tim Hortons
Aug 26 (Reuters) - Burger King Worldwide Inc agreed to buy Canadian coffee and doughnut chain Tim Hortons Inc 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)
- Divided, Scots prepare to vote on fate of the United Kingdom |
- IPhone emerges from 'bygone era', reviewers hail bigger handset
- Fed renews zero rate pledge, but hints at steeper rate hike path |
- Boeing, SpaceX win contracts to build 'space taxis' for NASA
- Islamic State campaign tests Obama's commitment to Mideast allies