Talk about a juicy deal.
The New York Times is reporting that fast-food behemoth Burger King is in advanced takeover discussions with private investment company 3G Capital. Citing “people involved in the negotiations,” the Times says the parties could ink the deal in coming days, although there is a chance it could get chucked.
This isn’t 3G’s first go-round in the burger business. In 2008 the company held a substatial stake in Wendy’s. Nor is it Burger King’s first time through the acquisition meat grinder. TPG, Bain Capital and Goldman Sachs took the company private eight years ago, only to bring it public again in 2006.
Also, in what may have been a breaking-news typo The Wall Street Journal earlier reported that 3i Group was at the Burger King negotiating table. It has since corrected its story.
Burger King shares were lately up 15% at $18.84 in midday trading on the New York Stock Exchange.