BUZZ-Tim Hortons Inc and Burger King Worldwide Inc: Shares hit record highs

Mon Aug 25, 2014 11:01am EDT
 
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(Updates)

** Tim Hortons' U.S. shares up 19.4 pct at $75.00, Burger King up 15.6 pct at $31.30 at 1053 ET, both just below record highs hit in earlier trading

** Tim Hortons Toronto-listed shares up 19.7 pct C$82.30, with more than 2 million shares traded by 1049 ET after hitting record high of C$83.25

** Companies in talks for Burger King to take over Canadian coffee and doughnut chain

** Deal would create fast food company with market value of about $18 billion

** Tim Hortons U.S. shares trading at 37 pct premium to intrinsic value, according to Thomson Reuters StarMine; Burger King shares at nearly 71 pct premium

** Burger King and Tim Hortons shares register their biggest ever single-day gains