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Burger King ink deal to buy Tim Hortons

Tuesday, August 26 12:56:04

Burger King Worldwide agreed to buy Canadian coffee and doughnut chain Tim Hortons in cash and stock to create the third-largest quick service restaurant group with sales of about $23 billion.

Tim Hortons shareholders will receive C$65.50 in cash and 0.8025 shares of the new company for every share they own, the companies said in a joint statement.

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