Tuesday October 3, 2023
  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast
Versión Español
PanAm Post
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
PanAm Post
No Result
View All Result

Home » Burger King to Buy Tim Hortons, Move Headquarters to Canada

Burger King to Buy Tim Hortons, Move Headquarters to Canada

PanAm Post Staff by PanAm Post Staff
August 26, 2014
in News Brief, North America, United States
FacebookTwitterTelegramWhatsapp
With its purchase of Tim Hortons, Burger King is set to become the third largest quick-service restaurant company in the world.
With its purchase of Tim Hortons, Burger King is set to become the third largest quick-service restaurant company in the world. (Wikipedia)

Fast-food restaurant chain Burger King has agreed to buy Canadian-coffee-and-doughnut chain Tim Hortons for more than US$11 billion, in a deal that moves the company’s headquarters to Canada. Burger King Worldwide Inc. executives defended their decision on Tuesday, claiming the deal is motivated by a desire for global expansion rather than tax considerations.

The combined company will become the third largest quick-service restaurant company, with 18,000 restaurants in 100 countries, and $23 billion in annual revenue. “By bringing together our two iconic companies under common ownership, we are creating a global [quick service restaurant] powerhouse,” said Alex Behring, executive chairman of Burger King and managing partner of 3G Capital.

RelatedArticles

The night Chris Rock turned into a 12-year-old whiny bully victim

The night Chris Rock turned into a 12-year-old whiny bully victim

March 26, 2023
The new socialist supremacisms: a maoist cultural revolution undermines the US

The new socialist supremacisms: a maoist cultural revolution undermines the US

August 21, 2021

Behind deal lays the fact that Canada has lower overall corporate taxes than the United States, especially for entities that have large amounts of earnings from overseas. However, Daniel Schwartz, Bruger King’s CEO, affirmed that “this transaction is not really about taxes, it’s about growth.”

The transactions is also being partially financed by Warren Buffet’s Berkshire Hathaway Inc., placing Buffet at the center of the newly heightened tax inversion controversy.

According to the Wall Street Journal, an inversion is when “a US firm relocates — usually through a merger with a smaller company — to a country where tax rates and rules are perceived to be friendlier, but it typically continues to be managed from the United States.”

“Burger King’s pursuit of an inversion only further underscores the arcane, anti-competitive nature of the US tax code,” a Republican Senate Finance Committee spokesman said.

President Barack Obama said companies considering tax inversions reflects a “herd mentality.”

Sources: Wall Street Journal, Bloomberg.

Tags: Burger KingTim HortonsWarren Buffet
PanAm Post Staff

PanAm Post Staff

Related Posts

The night Chris Rock turned into a 12-year-old whiny bully victim
Columnists

The night Chris Rock turned into a 12-year-old whiny bully victim

March 26, 2023
The new socialist supremacisms: a maoist cultural revolution undermines the US
Columnists

The new socialist supremacisms: a maoist cultural revolution undermines the US

August 21, 2021
GETTR: the powerful weapon of Trump and international right wing
United States

GETTR: the powerful weapon of Trump and international right wing

July 13, 2021
Three Signs That Elon Musk Has the World at His Fingertips
Columnists

Trump Against Suppression of Human Rights

February 1, 2021
Three Signs That Elon Musk Has the World at His Fingertips
News

15 Republicans Who Voted Against Trump Are Already Facing the Consequences

February 1, 2021
Three Signs That Elon Musk Has the World at His Fingertips
Analysis

Three Signs That Elon Musk Has the World at His Fingertips

February 1, 2021
Next Post
Honduras Knocks on Door of Development Bank to Fund ZEDEs

Honduras Knocks on Door of Development Bank to Fund ZEDEs

Subscribe free and never miss another breaking story

  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast

© 2020 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact

© 2020 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. Privacy and Cookie Policy.