Obamaton Warren Buffett Financing the Burger King-Tim Hortons Tax Inversion Deal
Via the Christian Science Monitor:
Ha ha ha ha ha ha ha ha ha!
It’s official. Burger King and Tim Hortons are combining to make the world’s third largest quick-service retailer.
Burger King will buy Tim Hortons, the Ontario, Canada-based coffee and donut chain, for $11 billion. The combined firm will have 18,000 restaurants in 100 countries and an estimated $23 billion in sales. 3G Capital, Burger King’s parent company, will own 51 percent of the new company. But you needn’t worry about changes to your Whopper or favorite cup of coffee – the two restaurants will continue to be managed as independent chains.
[. . .]
Warren Buffett’s equity firm Berkshire Hathaway is providing $3 billion to help finance the deal. Mr. Buffett announced Tuesday that Berkshire Hathaway will pay the US corporate tax rate on any money it earns from being a passive equity investor in the deal. . .
- Greg Pollowitz