Burger King Worldwide Inc. raised its offer price to Tim Hortons’ Inc. executives three times before the coffee chain’s board decided to enter into takeover discussions with the fast food giant.
Discussions between the two quick-serve restaurant giants began after Burger King Chairman Alexandre Behring, managing partner of 3G Capital, approached billionaire investor Warren Buffett in early March and suggested his Berkshire Hathaway should provide financing for a deal to combine the two restaurant giants.
By Chris Katje: You may have noticed new Burger King (BKW) commercials airing on television recently with the likes of David Beckham and Aerosmith front man Steven Tyler. The company's new motto "Exciting Things Are Happening At Burger King" is shown predominantly through the commercials. On Wednesday, shares of Burger King once again hit the public market, trading on the New York Stock Exchange under the symbol BKW.