Buffett to help finance Burger King's acquisition of Tim Hortons: WSJ

[Freddie Stubbs]

Source: Reuters

Berkshire Hathaway Inc chairman and CEO, Warren Buffett, is helping finance Burger King Worldwide Inc's take over of Canadian chain Tim Hortons Inc, the Wall Street Journal reported, citing people familiar with the matter.

Buffett will invest in the merger in the form of preferred shares, the people told the WSJ, adding that Berkshire is expected to provide about 25 percent of the deal's financing. (http://on.wsj.com/VL74SY)

The exact structure of Buffett's participation remains unclear, and discussions are ongoing, the Journal said.

Shares of the Canadian coffee and doughnut chain and U.S. fast-food company Burger King confirmed late on Sunday that they were discussing a merger. Investors and analysts said the deal was spurred in part by Canada's attractive tax policies.

Read more: http://www.globalpost.com/dispatch/news/thomson-reuters/140826/buffett-help-finance-burger-kings-acquisition-tim-hortons-wsj

[global1]

1. Is Anyone Here Bothered By Buffett's Involvement With This Take Over?.....

This move by Burger King is clearly a 'tax inversion' scheme. Buffett, whom I've always respected and considered him kind of a patriot because of his other very visible comments on rich needing to be taxed higher, is helping finance this tax avoidance scheme. What gives? I guess when it comes to making money - all bets are off.

[donnasgirl]

2. Yes i am bothered

http://www.bloomberg.com/news/2014-08-26/buffett-to-help-finance-burger-king-deal-wsj-reports.html i honestly thought he was real.

[PoliticAverse]

5. Buffett is an expert on avoiding taxes.

For example: http://www.washingtonpost.com/business/economy/how-warren-buffett-and-don-graham-are-saving-675-million-in-taxes/2014/04/10/2636dd60-c0ec-11e3-bcec-b71ee10e9bc3_story.html

[GeorgeGist]

11. Buffett is a greedy man.

[Protalker]

3. Just another wolf in sheep's clothing

This is a business decision crap. People's actions say it all . No need for thr spin.

[DonCoquixote]

4. Canada

I humbly sat this is another reason you need to get Treadau in STAT! Of course, will you guys actually get rid of the Keystone pipeline and Burger King once he is in? I know le Bloc Quebecois would.

[BlueEye]

6. Even at Canada's lower 10-15% tax rate

I suspect the money is better spent on helping people (albeit Canadians) with Canada's universal health program and other social services. Burger King's taxes in America buy hypersonic rockets that explode four seconds after launch.

[DonCoquixote]

7. not for long

Harper is doing a good job at making sure Canada follows the same "austerity" trend.

[Tom_Foolery]

8. I lost all respect for Warren Buffet last April because of this:

JAMESTOWN — Clothing company Fruit of the Loom announced Thursday that it will permanently close its plant in Jamestown and lay off all 600 employees by the end of the year.

The Jamestown plant is the last Fruit of the Loom plant in a state where the company had once been a manufacturing titan second only to General Electric.

The company, owned by Warren Buffett's Berkshire Hathaway but headquartered in Bowling Green, said the move is "part of the company's ongoing efforts to align its global supply chain" and will allow the company to better use its existing investments to provide products cheaper and faster.

The company said it is moving the plant's textile operations to Honduras to save money.


http://www.kentucky.com/2014/04/03/3177378/fruit-of-the-loom-to-close-jamestown.html

[SoapBox]

9. Oh.....

I didn't realize he was up to this stuff...really an eye opener.

I know he's all about money but does he really need to be involved in tax dodging shit like this?

Big boycott time.

[Octafish]

10. Pump & Dump for the Billionaire Set

Prices of both Tim Horton and Burger King went up Whopper size after the deal was announced.

[Spitfire of ATJ]

12. Simple solution....

Canada should charge them 70% in taxes.

[LloydS of New London]

13. To use the verminology of the New York Times...

...Buffett is no angel.