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Strategies & Market Trends : Currents of Currency
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From: Ahda8/25/2014 3:31:11 PM
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NEW YORK ( TheStreet) - Burger King( BKW _) and Tim Hortons ( THI _) investors are certainly cheering the prospects of a merger between the fast-food burger chain and the Canadian doughnut-and-coffee outlet that could threaten McDonald's ( MCD _) supremacy in the quick-service food industry.

Shares of Burger King were surging 22% to $33.11, hitting a 52-week-high while Tim Hortons was rising 21% to $76.28, also hitting a new 52-week-high.

Burger King and Tim Hortons on Sunday disclosed in a press release that they're in discussions about a potential merger. If a new publicly-traded company is formed, it would be headquartered in Canada (Tim Hortons is based in Oakville, Ontario), making Burger King yet another U.S. company looking to move its headquarters out of the U.S. to lower its tax rate. That's one reason equity traders appear to like the prospect for a merger.

But there are there are other reasons for investors and consumers to like this combination.

Tim Hortons operates 4,546 restaurants, mainly in Canada and in the U.S. Northeast while Burger King has more than 13,000 franchised locations in 98 countries. A combined Burger King and Tim Hortons would have 18,000 restaurants in 100 countries with about $22 billion in sales. The companies said a merger would create the world's third-largest fast-food restaurant company.
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