3G Capital gets 93 percent of Burger King in tender

NEW YORK (BestGrowthStock) – 3G Capital said on Friday it has successfully completed its tender offer for Burger King Holdings Inc (BKC.N: ), which last month agreed to sell itself to the investment firm for $3.26 billion excluding debt, or $24 per share.

The tender offer expired at midnight on Thursday. 3G Capital said 93.8 percent of shares were validly tendered.

Earlier in the week, the No. 2 U.S. fast-food chain said it had not gotten a superior buyout offer during the “go-shop” period that ended on October 12.

Burger King’s largest shareholders included TPG Capital LP (TPG.UL: ), Goldman Sachs Group Inc’s (GS.N: ) Goldman Sachs Capital Partners and Bain Capital Investors.

The deal with 3G Capital came as the fast food chain struggled to fix its business and close the gap with industry leader McDonald’s Corp (MCD.N: ).

(Reporting by Phil Wahba, editing by Gerald E. McCormick)

3G Capital gets 93 percent of Burger King in tender