Category: Financial
- Published: 03 September 2014
- Written by Editor
by Rachel Fox : FoxonStocks.com
Burger King (BKW) announced Tuesday, Aug 26th, that it was going to buy Canadian coffee-and-doughnut chain Tim Hortons (THI) for roughly $11 billion. Berkshire Hathaway will provide a little less than 25% of the deal’s financing in exchange for preferred shares of stock.
The deal will create a fast-food company with about $23 billion in sales annually and more than 18,000 locations. Together, Burger King and Tim Hortons will be the world’s third largest fast food company, second to McDonalds (MCD) and KFC (YUM).
