Restaurant Brands International—the company that owns Burger King and Tim Hortons—is reportedly nearing a deal to acquire fried chicken chain Popeyes Louisiana Kitchen, according to Reuters.
The Atlanta-based Popeyes runs nearly 2,600 restaurants across the U.S. with a $1.49 billion market cap. Its shares jumped more than 14 percent on Monday after the rumor was reported. Burger King and Tim Hortons also saw shares increase with a 4.7 percent gain.
Reuters notes the deal has yet to materialize, no price has been established for the fried chicken chain and there is no indication that negotiations will continue.WHAT OTHERS ARE CLICKING ON
- Russian ambassador to the UN dies unexpectedly in New York City
- Senior Trump appointee fired after critical comments
- Trump’s rally in Melbourne baffles the country of Sweden
- Pasco Deadly Theater Shooting: Reeves in court for ‘Stand Your Ground,’ hearing
- Multi-lane crash snarls traffic on I-4 in Hillsborough
- Orlando high school football players lift truck off woman, saving her life