Burger King & Tim Hortons Get One Step Closer To The Altar With Canadian Watchdog’s Approval
According to the Wall Street Journal, the Canadian Competition Bureau said in a statement that based on what it’s looked at, the deal is unlikely to take a slice out of, stymie or otherwise hurt competition in Canada’s fast-food industry.
“We’re pleased to have achieved this milestone and continue to work through the regulatory process,” a Tim Hortons spokesman said, while Burger King played it coy and didn’t offer a comment.
Burger King’s planned buyout of coffee chain and pride of Canada Tim Hortons is worth about $11 billion, and still has a passel of approvals to nab before it can come to fruition.
That includes Canada dubbing the deal a net benefit for the country’s economy, as other American companies are also considering making the move north to take advantage of seemingly more friendly tax laws.
Burger King-Tim Hortons Deal Clears Antitrust Hurdle [Wall Street Journal]
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