The takeover of Tim Hortons by Burger King was rubber-stamped today by Ottawa’s Industry Minister but not without conditions.
The takeover of Tim Hortons by Burger King was rubber-stamped today by Ottawa’s Industry Minister but not without conditions. James Moore agreed to the $12.5 billion deal but there will be no combined stores either here or in the US as Tim Hortons’ Canadian identity must be protected; Canadian jobs will also be protected as part of the deal with 100 per cent employment levels maintained at Tim Hortons restaurants here and significant employment levels to be maintained at a joint BK/TH head office in Ontario. Canadians are also to make up at least 50 per cent of the combined firm’s board. Although the deal still requires shareholder approval, there are big plans for the enlarged firm including faster expansion for the Tim Hortons brand south of the border.
