Burger King In Talks To Buy Canadian Coffee-and-Doughnut Chain
STEVE INSKEEP, HOST:
It's MORNING EDITION from NPR News. NPR's Business News starts with a new king in Canada. With all due respect to the Queen, Burger King is in talks to buy Tim Hortons, the giant Canadian coffee and doughnut chain. The Wall Street Journal reports the deal would involve moving Burger King's headquarters from Miami to Toronto in a so-called tax inversion deal. Burger King would follow several other companies that have shifted their headquarters to Canada to take advantage of its lower 15 percent tech corporate tax rate. The combined companies would form the third-largest fast-food chain in the world, with combined annual sales of around $22 billion. Transcript provided by NPR, Copyright NPR.