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 Burger King Agrees to Buy Tim Hortons in Move to Lower Taxes

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PostSubject: Burger King Agrees to Buy Tim Hortons in Move to Lower Taxes   Tue Aug 26, 2014 9:17 am

Photographer: Brent Lewin/Bloomberg
Tim Hortons Inc. doughnuts.

By Leslie Patton and Craig Giammona  Aug 26, 2014 7:45 AM ET

Burger King Worldwide Inc. agreed to acquire Tim Hortons Inc. in a C$12.5 billion ($11.4 billion) cash-and-share deal and move its headquarters to Canada, enabling the second-largest U.S. burger chain relocate to a lower-tax country.


Tim Hortons investors will receive C$65.50 in cash and 0.8025 a share of the combined entity for each share they own, the companies said in a statement today. The price deal values each Tim Horton share at C$94.05 based on Burger King’s closing price yesterday, according to the statement.


The purchase gives Burger King access to a coffee brand with a cult following, which may help boost breakfast sales. Tim Hortons, Canada’s biggest seller of coffee and doughnuts, would also enable Burger King get into the grocery business by selling packaged coffees at supermarkets in North America. The new combined business would have about $23 billion in system sales and more than 18,000 restaurants in 100 countries.


The acquisition revives debate over American companies moving their headquarters to other countries in search of lower corporate tax bills. President Barack Obama criticized the practice in July, and his aides said that the administration would take action to stop the trend.


http://www.bloomberg.com/news/2014-08-26/burger-king-agrees-to-buy-tim-hortons-in-move-to-lower-taxes.html

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PostSubject: Re: Burger King Agrees to Buy Tim Hortons in Move to Lower Taxes   Tue Aug 26, 2014 11:12 am

They wonder why America is failing.  Doh
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PostSubject: Re: Burger King Agrees to Buy Tim Hortons in Move to Lower Taxes   Tue Aug 26, 2014 12:09 pm

Yup... the "You Gotta Pay Your Fair Share" lunatics have chased another major corporation out of the US, along with all of the tax revenue that was being collected.

Our government is full of "short-bus" riders who have no clue about how to run a country.

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