Burger King has confirmed a deal to buy Tim Hortons with financial assistance from investor Warren Buffett, the companies announced on Tuesday. The deal is valued at about $11 billion
The announcement confirms an earlier report. The deal would allow the burger chain to possibly cut taxes by moving out of the United States.
Under the terms of the agreement, Burger King’s executive chairman Alex Behring will take the lead of Tim Hortons as executive chairman and director, while current Tim Hortons CEO Marc Caira will become vice chairman and a director, according to The Wall Street Journal , which first reported the deal on Sunday. Read more…
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