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Burger King Says Tim Hortons Deal is About Growth, Not Inversion

8/26/14 3:00 PM EDT
Burger King announced it will buy Canadian restaurant chain Tim Hortons for about $11.4 billion -- creating the world's third largest quick service restaurant company. Tim Hortons president and CEO Marc Caira says his company will be able to benefit from Burger King's experience with bringing its brand around the world. While the new company will be incorporated in Canada, Tim Hortons will keep its main office in Oakville and Burger King will keep its main office in Miami. On a conference call, Burger King chief executive Daniel Schwartz said the deal can be considered a tax inversion, but that wasn't the driver behind the agreement. Instead, it's about the growth that's to come for Tim Hortons internationally.
Stocks in this video: BKWTHI
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