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merger

Tuesday August 26, 2014

August 25, 2014 by Graeme MacKay

Tuesday August 26, 2014By Graeme MacKay, The Hamilton Spectator – Tuesday August 26, 2014

Tim Hortons, Burger King shares surge on merger talk

Shares in Burger King and Tim Hortons have jumped dramatically in pre-market trading in New York on news the two companies are talking about joining forces.

It’s not know what such a deal would be worth, but both stocks surged with U.S.-based Burger King up 16.2 per cent to US$27.11. Shares in Tim Hortons jumped 16.96 per cent to US$62.84.

If Burger King joins forces with Tim Hortons, the new publicly traded company would be based in Canada and would have tax advantages for the U.S.-based burger chain.

Burger King would be able to shave its American tax bill in what’s called a tax inversion, something that has become increasingly popular among U.S. companies trying to cut costs.

In an inversion, a U.S. company reorganizes in a country with a lower tax rate by acquiring or merging with a company there. Inversions allow companies to transfer money earned overseas to the parent company without paying additional U.S. taxes. That money can be used to reinvest in the business or to fund dividends and buybacks, among other things.

Companies like AbbVie, a pharmaceutical with its headquarters just outside Chicago, have tied up with companies overseas to achieve that type of tax cut.

More recently, Walgreen, the huge retail chain, backed away from such a plan under intense pressure in what is becoming an increasingly hot political issue in the United States.

Under a deal between Burger King and Tim Hortons, 3G Capital, the majority owner of Burger King, would continue to own the majority of the shares of the new company on a pro forma basis, with the remainder held by existing shareholders of Tim Hortons and Burger King.

Both companies have confirmed they are talking and have said Oakville, Ont.-based Tim Hortons and Miami-based Burger King would operate as standalone brands, if the deal goes ahead. (Source: Global News)

Editorial Cartoon, Business, Canada, Tim Hortons, Burger King, merger, corporation, taxes

Posted in: Business, Canada Tagged: Burger King, business, Canada, corporation, Editorial Cartoon, merger, taxes, Tim Horton's

December 10, 2003

December 10, 2003 by Graeme MacKay
Editorial Cartoon by Graeme MacKay, The Hamilton Spectator Ð December 10, 2003 Tory stalwart Joe Clark partyless The new Conservative Party of Canada lost three MPs yesterday, hours after a proud announcement that it had officially registered for business and begun operations. Former Tory leader Joe Clark and fellow MPs Andre Bachand of Quebec and John Herron of New Brunswick said they couldn't bring themselves to participate in the new organization, formed through a merger with the Canadian Alliance. "This is not my party," Clark said as he arrived for what he called his last Tory caucus meeting. "This is something entirely new. I will not be part of this new party." Herron, like Clark, said he had notified Speaker Peter Milliken that he would serve out his current term but would keep calling himself a Progressive Conservative -- the old party name that was ditched in the merger. "I sought a mandate to be elected as a Progressive Conservative," Herron said. "I plan on fulfilling my mandate." In effect, Clark and Herron will be treated as independents under Commons rules, with reduced opportunity to ask questions, participate in debates and serve on committees. Bachand, who has been courted by the federal Liberals, said he hasn't decided whether to remain in politics but, if he does, it won't be under the banner of the new Conservative party. (Source: Hamilton Spectator) Canada, long good-bye, Jean Chretien, Joe Clark, Progressive , Conservative, Reform, merger, leadership

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – December 10, 2003

Tory stalwart Joe Clark partyless

The new Conservative Party of Canada lost three MPs yesterday, hours after a proud announcement that it had officially registered for business and begun operations.

Former Tory leader Joe Clark and fellow MPs Andre Bachand of Quebec and John Herron of New Brunswick said they couldn’t bring themselves to participate in the new organization, formed through a merger with the Canadian Alliance.

“This is not my party,” Clark said as he arrived for what he called his last Tory caucus meeting. “This is something entirely new. I will not be part of this new party.”

Herron, like Clark, said he had notified Speaker Peter Milliken that he would serve out his current term but would keep calling himself a Progressive Conservative — the old party name that was ditched in the merger.

“I sought a mandate to be elected as a Progressive Conservative,” Herron said. “I plan on fulfilling my mandate.”

In effect, Clark and Herron will be treated as independents under Commons rules, with reduced opportunity to ask questions, participate in debates and serve on committees.

Bachand, who has been courted by the federal Liberals, said he hasn’t decided whether to remain in politics but, if he does, it won’t be under the banner of the new Conservative party. (Source: Hamilton Spectator)

Posted in: Canada Tagged: Canada, Conservative, Jean Chretien, Joe Clark, leadership, long good-bye, merger, Progressive, reform

Wednesday December 10, 2003

December 10, 2003 by Graeme MacKay

December 10, 2003

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday December 10, 2003

Tory stalwart Joe Clark partyless

The new Conservative Party of Canada lost three MPs yesterday, hours after a proud announcement that it had officially registered for business and begun operations.

Former Tory leader Joe Clark and fellow MPs Andre Bachand of Quebec and John Herron of New Brunswick said they couldn’t bring themselves to participate in the new organization, formed through a merger with the Canadian Alliance.

“This is not my party,” Clark said as he arrived for what he called his last Tory caucus meeting. “This is something entirely new. I will not be part of this new party.”

Herron, like Clark, said he had notified Speaker Peter Milliken that he would serve out his current term but would keep calling himself a Progressive Conservative — the old party name that was ditched in the merger.

“I sought a mandate to be elected as a Progressive Conservative,” Herron said. “I plan on fulfilling my mandate.”

In effect, Clark and Herron will be treated as independents under Commons rules, with reduced opportunity to ask questions, participate in debates and serve on committees.

Bachand, who has been courted by the federal Liberals, said he hasn’t decided whether to remain in politics but, if he does, it won’t be under the banner of the new Conservative party. (Source: Hamilton Spectator)

 

Posted in: Canada Tagged: Canada, Conservative, Jean Chretien, Joe Clark, leadership, long good-bye, merger, Prime Ministers, Progressive, reform

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