Burger King, (NYSE: BKC) the king of burgers, announced today that it is accepting takeover offers! Eric Savoie, Co-CEO of takeoverchatter.com said "stocks are at their cheapest levels in years, even a fool could have predicted there would be so much M&A activity". The Wall Street Journal thinks that Yum Brands (NYSE: YUM) could be a potential buyer of BKC.
At today's Apple speech, a Whopper box was found in the trash can outside of Steve Jobs' makeup room. This indicates that Jobs may be a serious contender in the takeover deal. When asked, his colleagues told reporters that he was joking about the whole idea.
The whisper number for the first takeover offer is estimated to be US$2.95 Billion for the entire company. This would value shares at 21.72$/share. That is a 22% premium to the current US$17.81 share price for BKC.
