Canada's government on Thursday approved Burger King Worldwide's C$12.64 billion ($11.10 billion) takeover of coffee-and-doughnut chain Tim Hortons Inc , which will create a new company based north of the border.Burger King had agreed to purchase the iconic Canadian company in August in a transaction that would create the world's third-largest fast-food restaurant group, but the cash-and-stock deal was subject to approval by regulators."The result of this transaction is this new global company ... which will now be based in Canada," Industry Minister James Moore said in a statement."Our government is pleased to see companies like Burger King investing in Canada's economy and looking to benefit from our low taxes and open markets."
Tim Hortons Inc., is a quick service restaurant in North America. Shares of THI traded higher by 0.46% or $0.38/share to $83.81. In the past year, the shares have traded as low as $50.67 and as high as $84.98. On average, 970334 shares of THI exchange hands on a given day and today's volume is recorded at 1174730.
Tim Hortons Inc., is a quick service restaurant in North America. Shares of THI traded higher by 0.54% or $0.51/share to $95.39. In the past year, the shares have traded as low as $56.12 and as high as $97.26. On average, 708692 shares of THI.TO exchange hands on a given day and today's volume is recorded at 1479561.
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