BUZZ-Tim Hortons Inc and Burger King Worldwide Inc: Acquisition

Tue Aug 26, 2014 8:22am EDT
 
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** Tim Hortons' U.S. listed shares up 10 pct at $82.10 premarket; Burger King's shares up 1.5 pct at $32.89

** Burger King agrees to buy the Canadian coffee and doughnut chain in cash and stock to create the third-largest quick service restaurant group

** Tim Hortons shareholders to get C$65.50 in cash and 0.8025 shares of the new company for every share they own

** 3G Capital to own about 51 pct of new company

** Tim Hortons shares touched a record high of $77.80 on Monday after the companies confirmed merger talks