MIAMI (CBSMiami/AP) — Burger King announced Sunday that it is in talks to buy Tim Hortons and form a new publicly listed company that would be based in Canada.
The two fast-food companies said that Burger King majority owner 3G Capital would continue to own the majority of shares of the new company, with the remainder held by existing shareholders of Tim Hortons and Burger King.
The companies’ statement says Miami-based Burger King Worldwide Inc. and Ontario-based Tim Hortons Inc. would continue to operate as standalone brands but would share corporate services.
The Wall Street Journal first reported the talks and that the companies say there’s no assurance a deal will happen.
The new company would have 18,000 restaurants in 100 countries worldwide. The companies say that would make it the world’s third-largest fast-food restaurant company.
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