Burger King, Tim Hortons new tax rules won't affect merger

Tue Sep 23, 2014 11:23am EDT
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LOS ANGELES, Sept 23 (Reuters) - Burger King Worldwide and Tim Hortons Inc on Tuesday said their $11.5 billion merger is "moving forward as planned," as new Treasury Department rules on corporate tax inversions take effect.

"This deal has always been driven by long-term growth and not by tax benefits," the companies said in a joint statement.

Fast-food burger chain Burger King is in the midst of inverting to Canada in a deal with coffee and doughnut seller Tim Hortons. (Reporting by Lisa Baertlein in Los Angeles; Editing by Chizu Nomiyama)