Tim Hortons executives spent nearly six months negotiating the US$11-billion takeover deal with Burger King, a process that saw the American company increase its offer for the coffee chain three times.
The Obama administration will decide 'in the very near future' what actions it can take to make it less profitable for U.S. companies to shift their legal addresses to other countries, Treasury Secretary Jacob Lew said Monday.
Burger King plans to become the latest U.S. company to shift its legal address out of the country by merging with a foreign company. Burger King has announced plans to buy Tim Hortons, the Canadian coffee-and-doughnut chain.
News of the $12.5-billion Burger King takeover of Tim Hortons has cast a spotlight on 3G Capital, the investment firm known for tightening and cost cutting that will own approximately 51 per cent of the new company.
Tim Hortons is a Canadian institution and Burger King is one of the top fast-food brands in North America. So it's no surprise that both Canadians and Americans have strong opinions about the $12.5-billion deal that will form one massive company.