Restaurant Brands (QSR - Get Report) had reportedly pursued a potential takeover of rival fast-food chain Popeyes Louisiana Kitchen (PLKI) months ago, but has since lost interest, the New York Post reports.
Yesterday Reuters reported that the Canada-based owner of Burger King and Tim Hortons was currently in discussions about a possible acquisition.
Popeyes stock was down about 3.3% to $68.50 in pre-market trading on Tuesday after soaring on Monday. Restaurant Brands stock was down 0.56% to $53.50 in pre-market trading.
Restaurant Brands walked away from the discussions late last year in part because Popeyes shares surged after the company reported third-quarter results in November, the Post reports.
Popeyes stock has risen another 17% so far this year.
Restaurant Brands could pursue a transaction with another company altogether, with potential targets including pizza, Mexican and chicken restaurants, sources told the Post.