Burger King takes over Tim Hortons

Now it’s official, the fast food chain Burger King takes over the donut provider Tim Hortons. Thus, this mega deal of 11 billion dollars is sealed. Burger King has thus taken a decisive step towards expansion and is now one of the largest gastro chains in the world..

One of the most famous investors, Waren Buffett, has participated in this deal. The company let it be known that the sum will be paid both in cash and a portion in shares. Not least because of the lower tax rates, Burger King is now also moving its headquarters to Canada. Currently, the Burger King corporate headquarters is located in Miami, Florida. Some investors have already made a killing on this deal. After the news was announced, the companies’ shares rose by almost 20%.

The estimated revenue of the merged corporations will be around 23 billion in sales. The number of stores now exceeds 18,000 worldwide.

The news is viewed with skepticism by many Americans, as the headquarters is moving to Canada for tax benefits alone. The current U.S. government had already critically observed such migrations in the past and announced that it would take action against them. The Canadians are not likely to be particularly pleased about this takeover either, as Tim Hortons is currently being taken over by its legendary arch-rival America.

Historical review: In 1964, Tim Horton, a former ice hockey player, founded his first cafe in Ontario. By the time of his tragic death in 1974, the company already had 40 stores and now as many as 4500!