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However, it had not been easy for either of the companies to close the deal. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Shares currently hover below the current offering of the merger deal, which values Tim Hortons shares at $89.86, based on Burger King’s Wednesday closing price. You can change your choices at any time by visiting Your Privacy Controls. The corporate name it took signaled the company's aim of … The merger, announced in August this year, received approval from the Canadian government only last week after Burger King agreed to comply with certain conditions. The $12-billion merger between Tim Hortons Inc. and Burger King has been finalized. tim-hortons-burger-king-merger-official.jpg [Photos: Shutterstock] Burger King is officially moving to Canada to join forces with Tim Hortons.According to the New York Times, a deal has been struck for Burger King to buy the Canadian doughnut and coffee chain for just about $11.4 billion which will make it "one of the biggest fast-food operations in the world." Tim Hortons shareholders will receive C$65.50 in cash and 0.8025 common shares of the new company, representing a total value of C$94.05 based on the closing price of Burger King’s stock … Click to get this free report, BJ'S RESTAURANT (BJRI): Free Stock Analysis Report, DINEEQUITY INC (DIN): Free Stock Analysis Report, FACEBOOK INC-A (FB): Free Stock Analysis Report, TWITTER INC (TWTR): Free Stock Analysis Report. © 2020, Nasdaq, Inc. All Rights Reserved. Quotes 5-day view End-of-day quote Toronto Stock Exchange: 12/08/2014: 12/09/2014: 12/10/2014: 12/11/2014: 12/12/2014: Date: 96.17: 94.94: 97.21: 99.45 Burger King reported same-store sales declines of 7%, while Tim Hortons same-store sales fell by 12.5%. Burger King Worldwide, Inc. (NYSE: BKW) is a Miami-Dade County, Florida based international fast-food chain known for its ‘whopper’ hamburger.The company is the second largest fast-food hamburger chain around the world. Burger King Worldwide Inc announced plans to buy Canadian coffee and doughnut chain Tim Hortons Inc for C$12.64 billion ($11.53 billion) in a cash-and-stock … It took all of 10 minutes for Tim Hortons’ shareholders to approve Burger King’s controversial takeoverTuesday, and give it a new generic name: Restaurant Brands International.. Is Luminar Stock A Good Play On The Next Generation Of Automobiles? Tim Hortons has more versatile food offerings for the breakfast segment that can help Burger king compete against the likes of McDonald’s, Dunkin' Brands and Starbucks. Investor Warren Buffett is helping finance Burger King Worldwide Inc.'s planned takeover of Canadian coffee-and-doughnut chain Tim Hortons Inc., according to people familiar with the matter, in … Tim Hortons shares were up 8.6 per cent to $89.10 on the Toronto stock market, while Burger King ticked down 2.6 per cent to US$31.55. Enter up to 25 symbols separated by spaces. The new company is expected to be listed on both the Toronto Stock Exchange and the New York Stock Exchange. This possible deal would create a company with a market value of … Zacks Research Staff . Rumors that the deal would result in extensive layoffs at Tim Hortons further added fuel to fire. Popeyes reported same-store sales growth of 0.6%, beating estimates of 0.1%. Burger King will continue to pay federal, state and local taxes on U.S. earnings, as will Tim Hortons keep paying Canadian taxes, Schwartz reiterated — several times. Long-awaited Burger King-Tim Hortons Merger Completed - Analyst Blog, Airbnb (ABNB) and DoorDash (DASH) IPOs: One Day Apart But Timing Is Completely Different. Burger King and Tim Hortons confirmed their merger discussions late on Sunday. As of Dec 12, 2014, shares of Tim Hortons and Burger King Worldwide common stock have stopped trading on the Toronto Stock Exchange and New York Stock Exchange, respectively. A combined Burger King and Tim Hortons would have 18,000 restaurants in 100 countries with about $22 billion in sales. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /(^[A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~][A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~\.]{0,62}@(([A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])?)(\.[A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])? Tim Hortons stock rose more than 10% in Tuesday pre-market trading. Today, that discovery is still the heart of the Zacks Rank. Don’t Sit This Out. Also, many expressed their disappointment on social media websites like Facebook, Inc. ( FB ) and Twitter, Inc. ( TWTR ). I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. Under the terms of the transaction, which has been unanimously approved by the Board of Directors of both companies, Tim Hortons shareholders will receive C$65.50 in cash and 0.8025 common shares of the new company per Tim Hortons share. Further, shares of Restaurant Brands International Limited Partnership - a subsidiary of Restaurant Brands International - will start trading on the Toronto Stock Exchange under the symbol QSP the same day. Tim Hortons agreed Tuesday to be bought by 3G Capital, the investment firm that owns Burger King. node.dataset.value : node.getAttribute('data-value'); if (selectedValue) { for (var j = 0; j < node.options.length; j++) { if(node.options[j].value === selectedValue) { node.options[j].selected = 'selected';break;}}}}}, Do Not Sell My Personal Information (CA Residents Only). Restaurant Brands International would be the world's third-largest fast-food company with a market value of roughly $18 billion. It is Canada's largest quick service restaurant chain, with 4,846 restaurants in 14 countries, by December 31, 2018. Burger King and Popeyes reported same-store sales growth that beat estimates, but Tim Hortons came up short. The shares of Restaurant Brands International will commence trading on the Toronto Stock Exchange and New York Stock Exchange under the symbol QSR from Dec 15, 2014. In 2005, some activist funds, including the omnipresent Bill Ackman (Pershing Square – which holds almost 11% of the Burger King shares), made the case forcefully that Wendy’s should spin-off Tim Hortons by listing it on the stock market. Get the latest stock price for Restaurant Brands International Inc. (QSR), plus the latest news, recent trades, charting, insider activity, and analyst ratings. The location of the headquarters of the new company has been a bone of contention ever since the deal was announced. Better-ranked stocks in the restaurant sector are BJ's Restaurants, Inc. ( BJRI ) and DineEquity, Inc. ( DIN ), both of which sport a Zacks Rank #1 (Strong Buy). This represents total value per Tim Hortons … Want the latest recommendations from Zacks Investment Research? Tim Hortons Inc. and Burger King will form the world's third-largest fast-food company after the Oakville, Ont.-based coffee chain agreed to a $12.5-billion merger with the U.S. company. By Carly Forster. Moreover, the deal has been the talk of the town for a while now owing to tax issues. The two brands will continue to operate independently under the new global quick service restaurant - Restaurant Brands International. The deal did not find favor with the White House either. Earlier, on Dec 10, 2014, the Tim Hortons shareholders had approved the long-awaited transaction. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Markets Are Pricing for Next Year, BlackRock’s Watson Says, Investing Strategies: Top Tech Trends For 2021, China EV Stock Frenzy, Holding Long-Term Leaders, UBS's Weber Says `No Quick Fix' for Economy Post-Vaccine, #TradeTalks: #2021Outlook as stocks closed out a spectacular November and look to the new year, 3 Psychedelic Stocks to Invest In the Future of Medicine, Aphria Expands Footprint for U.S. Growth; Analyst Says ‘Buy’. Burger King Worldwide Inc. agreed to acquire Tim Hortons Inc. for about C$12.5 billion ($11.4 billion) in a deal that creates the third-largest fast-food company and moves its … Restaurant Brands International ( QSR-WI ) announced the completion of the merger between Tim Hortons Inc. and Burger King Worldwide, Inc., worth roughly $11.0 billion. A wealth of resources for individual investors is available at www.zacks.com. )+)$)/i, failureMessage: "A valid email address is required"});field1.add(Validate.Format, {pattern: /\.\.|\. Create your Watchlist to save your favorite quotes on Nasdaq.com. Analysts note Tim Hortons’ stock may move sideways for a number of months as some … @/i, failureMessage: "A valid email address is required", negate: "true"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom5 = document.querySelector('#form1783 #field5');var field5 = new LiveValidation(dom5, {validMessage: "", onlyOnBlur: false, wait: 300});field5.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. MIAMI — Burger King says it struck a deal to buy Tim Hortons Inc. for about $11 billion, a move that would give the fast-food company a stronger foothold in the coffee and breakfast market. 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