Tim Hortons and Burger King Finalize a Merger
:Prince George, B.C.- It's a deal.
Tim Hortons and Burger King have announced they have reached an agreement to merge and "create a new global powerhouse in the quick service restaurant sector."
The merger will create a single company that will have about $23 billion dollars in system sales and more than 18 thousand arestaurants in 100 countries. The new company will be based in Canada.
In a news release issued today, the company says the merger has been "unanimously approved by the Board of Directors of both companies". Tim Hortons shareholders will receive $65.50 (Candian Dollars) in cash and 0.8025 common shares of the new company per Tim Hortons share.
Marc Caira, President and CEO of Tim Hortons offeres an assurance that Tim's will not change “We are very proud of the great history of our organization and the progress we have achieved in creating value and delivering the ultimate experience for our guests. As an independent brand within the new company, this transaction will enable us to move more quickly and efficiently to bring Tim Hortons iconic Canadian brand to a new global customer base. At the same time, our customers, employees, franchisees and fellow Canadians can all rest assured that Tim Hortons will still be Tim Hortons following this transaction, including our core values, employee and franchisee relationships, community support and fresh coffee.”
Comments
News is that Burger King is buying the Timmy’s chain on all the news channels…
It was interesting to hear what President Obama was saying about this merger, and subsequent announcement that the head office would be in Canada. He made himself sound like a true sore loser.
This sure is good news for Tims stockholders, wish I were one.
metalman.
It`s all about tax aversion…..Move to Canada to reduce corporate taxes.
all bout americans taking what they can’t create but what they want….
sorry Timmies you just lost a loyal customer, I refuse to have my money sent to the states.
NO I don’t buy American goods unless there is absolutely no other alternative or my life depends on it, (and then I think about it)
Oh my God who the hell cares! This DOES not impact my life in any way whatsoever. I will shop at any store regardless of where it’s from. Why waste precious time on something that really doesn’t affect anyone of us unless you work there, or want to have stocks. Some people are just way too silly to make life complicated by saying “Oh I won’t shop there because it’s American or whatever. You only make it apart of your life by complaining about something you have no control over. Man oh man.
Slinky its big news in Canada most americans don’t even know about the merger nor do they even know about the move of corporate headquarters american news media dislike reporting about stories that are negative to them….
pookerjams, you would be amazed at what you can do with little or no effort once you decide it is for you…
but hey, you want to fill the pockets of the Americans, feel free…I’m not going to try and stop you.
So now Burger King will be even more craptastic???
Don’t worry bcracer, I spend more that enough money in the US to make up for your xenophobic spending habits.
nothing xenophobic bout me weaksauce…I have no fear of foreigners, I just have little use for teh USA and I just don’t have any desire to help line their pockets.
But you may do as you like…the joys of a free world…
Can hardly wait for the chocolate glazed burger bits!
I don’t get your rant bcracer, (Imnoone). Burger King is moving its head offices from Miami to Canada. What if the majority of Burger King shares are owned by Iranians and Australians ? Did you go to Timmy’s back when it was owned by Wendys ?
The Harper Conservatives have turned Canada into a rate cutter…..In the business world it is the equivalent of a real estate agent that swoops into an area and offers their services at half the going commission of the local agents…or the trucking company that cuts his rates in an effort to get the work.
The result more often than not is the rates are lowered for everyone and no-one makes any money. Hence the perpetual recession where our Governments are continually cutting budgets in a desperate attempt to look fiscally responsible.
Only in politics would rate cutting be something to brag about.
The Harper Conservatives have turned Canada into a rate cutter…..In the business world it is the equivalent of a real estate agent that swoops into an area and offers their services at half the going commission of the local agents…or the trucking company that cuts his rates in an effort to get the work.
The result more often than not is the rates are lowered for everyone and no-one makes any money. Hence the perpetual recession where our Governments are continually cutting budgets in a desperate attempt to look fiscally responsible.
Only in politics would rate cutting be something to brag about.
Canada is now in a position to collect taxes from the third largest fast food chain in the world, this new revenue stream will help pay for education, healthcare, social programs and infrastructure, as well as create new administrative jobs, it’s clearly a financial plus for us all. The sense I’m getting from many of the other comments is you would be happier if the head office remained in Miami Florida. Sorry I just don’t see the problem.
You know you have first world problems when your arguing about a food services merger..
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