TORONTO Aug 25 Shares of Canadian coffee and
doughnut chain Tim Hortons Inc and U.S.
fast-food company Burger King surged in trading before
the opening bell on Monday after news that they are in merger
Burger King and Tim Hortons, comparable in size by market
value, confirmed their merger discussions late on Sunday, saying
the potential deal would create a fast-food powerhouse and that
the new entity would be based in Canada.
Shares of Tim Hortons jumped more than 17 percent to $73.90
in trading before markets opened in New York on Monday, while
Burger King, which is majority owned by investment firm 3G
Capital, was up more than 15 percent at $31.30.
(Reporting by Euan Rocha; Editing by Lisa Von Ahn)