TV News LIES

Friday, Oct 31st

Last update05:45:03 AM GMT

You are here News Of Special Interest Burger King, Tim Hortons merge into whopper-sized firm

Burger King, Tim Hortons merge into whopper-sized firm

E-mail Print PDF

Burger King mergerThe U.S.-based restaurant chain made it official Tuesday announcing that it agreed to merge with the Canada-based Tim Hortons restaurant chain. The deal, worth about $11 billion, will create the world's third largest quick service restaurant company with about $23 billion in sales and more than 18,000 restaurants in 100 countries.

The new global company will be headquartered in Canada, but each brand will be managed independently, with Burger King retaining its U.S. offices in Miami, the two companies said in a joint statement.

Warren Buffett's investment firm Berkshire Hathaway committed $3 billion of preferred equity financing for the deal, but will not have any participation in the management and operation of the business, the companies said.

The new base in Canada could allow Burger King (BKW) to reduce its U.S. tax bill -- a recent report by KPMG found that total tax costs in Canada are about 46% lower than in the U.S.

More...


Most Recent Related Stories...


Blackwater Founder Remains Free and Rich While His Former Employees Go Down on Murder Charges

Erik PrinceJust as with the systematic torture at Abu Ghraib, it is only the low level foot-soldiers...

Report: CIA Protected 1,000 Ex-Nazis It Hired As Cold War Spies

CIA, FBI hired NazisThe CIA and other U.S. agencies hired at least 1,000 ex-Nazis to serve as spies during...

Pope says evolution, Big Bang are real

Pope says evolution realPope Francis has waded into the controversial debate over the origins of human life, saying the...

Feds confused, investors panicked over Takata airbags

air bag recallsU.S. safety regulators today dramatically boosted, to at least 7.78 million, the number of U.S. vehicles...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!