3G Capital Will Acquire Burger King's Stock For $4 Billion (BKC)

Burger King Holdings (NYSE:BKC) and 3G Capital announced that they have entered into a definitive agreement under which 3G Capital will acquire Burger King's stock for $24 per share, or $4 billion, including the assumption of the company's outstanding debt.3G Capital has obtained committed financing to purchase all outstanding shares and refinance existing indebtedness. The transaction is expected to close in calendar year Q4.Chairman and Chief Executive Officer John W. Chidsey said, "The BURGER KING® brand is one of the most recognizable and respected brand names in the world, and we are pleased that 3G Capital recognizes the value we have created in revitalizing the brand and enhancing operations over the past seven years, We look forward to partnering with 3G Capital, whose proven track record as an investor, together with its financial and consumer brands experience, will serve to further strengthen the Company, our restaurants and franchisees worldwide. We are committed to maintaining the superior guest experience the BURGER KING® system is known for around the world as we transition ownership."SmarTrend is bullish on shares of Burger King Holdings and our subscribers were alerted to buy on September 01, 2010 at $18.16. The stock has risen 3.9% since the alert was issued.

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: TradeTheTrend

Length: 01:30
Rating: 5.0
Views: 890

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