We’ll continue to track the Tim Hortons and Burger King as terms of the deal have been announced with BKW buying THI for a combination of cash (C$65.50) and stock (0.8025 shares) for a value (based on last night’s close) of about $94 Canadian per THI share. Warren Buffett, who knows a juicy return when he sees one, is providing financing in the form of a $3 billion in return for preferred shares. The terms of the preferred shares are not available but when Berkshire participated in Heinz the coupon was 9%.
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