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Burger King Corp.

Burger King's parent is buying the Popeyes chicken chain for $1.8 billion

Burger King's parent is buying the Popeyes chicken chain for $1.8 billion

Restaurant Brands International Inc. said it's buying Popeyes Louisiana Kitchen Inc. for $1.8 billion, bringing the fried chicken chain under the same corporate umbrella as Burger King and Tim Hortons.

The move fits with Restaurant Brands' approach of taking over well-known fast-food chains it sees as having the potential for significant expansion. The deal gives Popeyes shareholders $79 per share, representing a 19% premium from its closing price on Friday.

Restaurant Brands was created after Burger King, controlled by Brazilian investment firm 3G Capital, bought Tim Hortons in 2014. The corporate name it took signaled that the company would add to its stable of fast-food...

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