Tim Hortons may be bought by Burger King
Canada would be the largest market of the combined company, officials say
Burger King is in talks to buy Tim Hortons Inc. and form a new publicly listed company that would be based in Canada.
The company said in a statement Sunday night that Canada would be the largest market of the combined company.
The statement said 3G Capital, the majority owner of Burger King, would continue to own the majority of the shares of the new company on a pro forma basis, with the remainder held by existing shareholders of Tim Hortons and Burger King.
The companies say Ontario-based Tim Hortons and Miami-based Burger King would operate as standalone brands.
The statement adds that the new corporation would be the world's third-largest quick service restaurant company, with approximately $22 billion in system sales and more than 18,000 restaurants in 100 countries worldwide.
The companies say they will not comment further unless there is a deal.
Popular in News
1 1795 reading now 'The White House is in disarray': Trump struggles to find 'easy win' after health-care dud
- 2 888 reading now Grabher considering legal action over licence plate flap
- 3 801 reading now The budget's gender-based analysis forgot to look at one thing — men: Neil Macdonald
- 4 754 reading now Orphaned Calgary children 'tortured' by aunt and uncle with needles and lighters, Crown tells trial
- 5 712 reading now Bizarre breastfeeding column is a viral gift for Michael Chong. He might as well own it: Robyn Urback