Deals
Burger King Deal Advances Amid U.S. Inversion Crackdown
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Burger King Worldwide Inc.’s deal to buy Tim Hortons Inc. and move its address to Canada will proceed, a day after the U.S. Treasury Department announced plans to crack down on corporate inversions.
Scott Bonikowsky, a Tim Hortons spokesman, said the deal is “moving forward as planned” and is driven by long-term growth and not tax benefits. The actions to curb inversions announced yesterday by Treasury Secretary Jacob J. Lew are getting an immediate test as eight U.S. companies with pending deals decide whether to move forward.