TORONTO, Aug 26 (Reuters) – Burger King Worldwide Inc
plans to buy Canadian coffee and doughnut chain Tim
Hortons Inc in a C$12.64 billion ($11.53 billion)
cash-and-stock deal that would create the world’s third-largest
fast-food restaurant group.
With roughly $23 billion in combined annual sales and more
than 18,000 restaurants in 100 countries, the new entity would
have a vast global footprint and huge growth potential, the
companies said in a joint statement on Tuesday.
TORONTO, Aug 25 (Reuters) – Investors in Burger King
Worldwide Inc and Tim Hortons Inc applauded
news of a potential merger between the two fast food chains,
seeing both tax savings and strategic rationale for a
The two companies confirmed late on Sunday that Burger King
is in talks to acquire the Canadian coffee and doughnut chain,
and that the combined entity would be based in Canada.
Shares of Tim Hortons jumped 18.9 percent to
close at $74.72 on the New York Stock Exchange on Monday, while
shares of Burger King, which is majority owned by investment
firm 3G Capital, rose 19.5 percent to $32.40.
TORONTO (Reuters) – Shares of Canadian coffee and doughnut chain Tim Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz)(THI.N: Quote, Profile, Research, Stock Buzz) and U.S. fast-food company Burger King (BKW.N: Quote, Profile, Research, Stock Buzz) jumped on Monday after news that they are in merger talks.
The companies, which are comparable in size by market value, late on Sunday confirmed they were discussing a takeover of Tim Hortons by Burger King. They said the new entity would be based in Canada, which has a lower corporate tax rate than the United States, especially for entities with large amounts of earnings from overseas.
NEW YORK/TORONTO, Aug 24 (Reuters) – Burger King is
in talks to combine with Canadian coffee and doughnut chain Tim
Hortons Inc, a deal that would create a fast food
powerhouse with a combined market capitalization of roughly $18
The companies confirmed merger discussions late on Sunday
and said the new company would be the world’s third-largest
quick service restaurant and be based in Canada.
TORONTO, Aug 22 (Reuters) – Royal Bank of Canada on
Friday reported a bigger-than-expected increase in quarterly
earnings, driven by strong results from its wealth management
and capital markets divisions.
Canada’s largest bank, as widely expected, also boosted its
quarterly dividend by about 6 percent to 75 Canadian cents a
TORONTO, Aug 14 (Reuters) – Canada’s D2L Inc said on
Thursday it raised $85 million in venture capital funds, the
country’s biggest such deal this year, as the fast-growing owner
of educational software maker Desire2Learn looks to ramp up its
Already an established player in Internet-based learning in
North America, privately held Desire2Learn plans to spur its
global expansion efforts with the cash injection, one of the
five largest venture capital fund raises in Canada in the last
10 years, according to Thomson Reuters data.
TORONTO, Aug 11 (Reuters) – Canada’s Imperial Metals Corp
faces huge cleanup costs after a major spill at its
Mount Polley mine that may force the miner to sell part of a
prized new asset unless its biggest shareholder steps in to
help, bankers and industry executives said.
Imperial is on the hook for cleanup costs related to the
spill, which sent billions of gallons of sludge containing
metals and minerals coursing into waterways last week.
TORONTO (Reuters) – BlackBerry Ltd said on Wednesday its Android and iOS device-management service has won a key security clearance from the U.S. Defense Information Systems Agency (DISA).
The company said the DISA clearance will allow its customers in various U.S. Department of Defense agencies to begin to use its BlackBerry Enterprise Service (BES) 10 system to manage and secure devices powered by Google Inc’s Android operating system and Apple Inc’s iOS software.
TORONTO, Aug 5 (Reuters) – BlackBerry Ltd has
concluded a protracted and painful restructuring process and is
back on a growth footing, according to an internal memo to all
its employees viewed by Reuters.
“We have completed the restructuring notification process,
and the workforce reduction that began three years ago is now
behind us,” said the memo from BlackBerry’s Chief Executive John
Chen that was sent out on Friday.
TORONTO August 1 (Reuters) – Canada’s three biggest telecom firms, keen to keep shareholders happy with fat dividends, are breaking into businesses ranging from banking to healthcare to drive growth as they run out of expansion options and shy away from overseas purchases.
BCE Inc (BCE.TO: Quote, Profile, Research), Rogers Communications Inc (RCIb.TO: Quote, Profile, Research) and Telus Corp (T.TO: Quote, Profile, Research) dominate their industry in Canada but with landline connections on the wane, cable TV losing out to online portals and wireless growth slowing, Canada’s telecom giants are pushing into uncharted businesses.