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Burger King Goes Canadian With $11B Tim Hortons Buy

 
Burger King Goes Canadian With $11B Tim Hortons Buy
Posted August 26th, 2014 @ 9:21am

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(NEWSER) – Burger King is confirming an $11 billion buy of Canada's iconic Tim Hortons coffee chain that will create Earth's third-biggest fast-food company and settle its headquarters in Canada—where corporate tax rates are conveniently around 26%, compared to a basic rate of 35% in the US.

The merger looks like a "tax inversion" play, an analyst tells the CBC, explaining that when an American firm merges with a Canadian one, it can sometimes "technically set up [its] headquarters in Canada, even though you still keep everybody in the United States. It's almost like a mailing address more than anything else."

Burger King will still run its business from Miami, notes the AP.

Read the full story on Newser.com

PHOTO: Getty Images

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