Competition Bureau gives OK to Burger King deal to buy Tim Hortons

By The Canadian Press

OTTAWA – Canada’s Competition Bureau has approved Burger King’s plan to buy Tim Hortons Inc. (TSX:THI).

The federal regulator says it issued a “no action letter” after concluding the deal was unlikely to reduce competition.

Burger King has offered US$11 billion for the Canadian coffee chain.

The deal still faces a review under the Investment Canada Act and requires approval by Tim Hortons shareholders.

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