News

3G Capital closer to acquiring Burger King

October 17, 2010

The 40-day waiting period for Burger King to solicit other offers pending 3 Capital's proposed $3.26 billion buyout has expired, according to The Associated Press. Burger King did not receive any other bids during the period.

From the story:

The tender offer of $24 a share and withdrawal rights related to the transaction are set to expire on Thursday unless extended or ended earlier.

The deal announced in September is viewed by Burger King as a way to expand more rapidly overseas. The companies value the transaction at $4 billion including debt that the buyer would assume.