Tim Hortons & Burger King owners gets 83% of Popeyes shares, adequate to take it over

Restaurant Brands International Inc. of Oakville, Ont., has perceived adequate shares of Popeyes Louisiana Kitchen, Inc. to finish a US$1.8-billion accessible takeover of a quick food chain.

The primogenitor of Tim Hortons and Burger King says that about 83 per cent of Popeyes common batch was tendered to a offer by a deadline, that lapsed during 11:59 p.m. on Friday.

Popeyes now has some-more than 2,600 restaurants, with 621 general locations. RBI has pronounced it skeleton to accelerate Popeyes’ expansion in a U.S. and beyond, regulating an proceed used by Burger King.

RBI announced Feb. 21 that it would compensate US$79 per Popeyes share, promulgation adult a duck chain’s batch about 19 per cent that day. Popeyes batch sealed Friday during $78.98.

RBI’s batch sealed Friday during $73.06 on a Toronto Stock Exchange, adult from $70.67 before to a takeover announcement.

Article source: http://www.cbc.ca/news/business/restaurant-brands-popeyes-1.4042164?cmp=rss