Sunday, 28 August 2016
Last updated 1 day ago
Sep 1 2010 | 11:32am ET
It may be the King (it’s the second-largest U.S. hamburger chain, actually), but Burger King has been doing some homage in recent weeks.
The company, which has some 12,000 locations around the world, is in advanced talks to sell itself to 3G Capital, The New York Times reports. A deal could be reached within days.
3G is perhaps best known as The Children’s Investment Fund’s activist partner in the ugly proxy battle against railroad CSX Corp. 3G’s Alexandre Behring was among the dissident board nominees to win a seat on the CSX board two years ago.
Earlier, The Wall Street Journal reported that Burger King was in talks with British private equity firm 3i Group, but 3i denied any interest in the restaurant chain.
If a sale does come, it will be the second time Burger King goes through the p.e. wringer. The fast food giant was owned by a consortium led by TPG Capital, Bain Capital and Goldman Sachs Capital Partners from 2002 through 2006.