Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, December 12, 2014

Article Excerpt

TIM HORTONS INC., $99.00, symbol THI on Toronto, has completed its merger with U.S.-based BURGER KING WORLDWIDE INC., $35.50, symbol BKW on New York. On Monday, December 15, 2014, the combined company, called Restaurant Brands International Inc., will begin trading on the Toronto and New York exchanges under the QSR symbol. Restaurant Brands is the world’s third-largest fast-food restaurant operator, after McDonald’s and Yum Brands, with 14,000 Burger King restaurants and 4,590 Tim Hortons outlets in 100 countries. In all, these locations have annual sales of over $23 billion U.S. Roughly 72% of Tim Hortons shareholders opted to receive 3.0879 shares of the new company for each Tim Hortons share they held. A further 26% chose the default option of $65.50 in cash plus 0.8025 of a Restaurant Brands share, while 2% picked the all-cash option of $88.50 a share. Brazilian private equity firm 3G Capital Management owns 51% of Restaurant Brands. Former Burger King investors hold 27%, while former Tim Hortons shareholders own…