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3G Capital Reaches Deal to Purchase Burger King for $3.3 Billion

Posted by Brian Krassenstein on Sep 2nd, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

3g Capital Buys Burger KingThe fast food chain, Burger King, seems to do everything fast, serve food fast, earn a fast profit for it’s investors, and only spend a brief amount of time as a publicly traded company.

About 4 years after Burger King went public, the company has decided to sell itself to private equity firm 3G capital in a deal worth $4 billion after you include Burger King’s debts. The news of the purchase sent shares of Burger King Holdings (BCK) up over 24% to $23.43 per share. The per share agreed upon value of the deal is $24.

The CEO of Burger King Holdings, John Chidsey, will remain in his position throughout the transition period before taking a new position with the company as co-chairman of the board, once the transition is over with. “The Burger King brand is one of the most recognizable and respected brand names in the world. We look forward to partnering with 3G Capital,” said John Chidsey.

The deal also sent various other fast food stocks to healthy gains on the day.

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