Burger King sticks with 3G Capital as go-shop ends

NEW YORK (BestGrowthStock) – Burger King Holdings Inc (BKC.N: ) said it did not get any superior buyout offers during the “go-shop” period following its agreement to sell itself to investment firm 3G Capital for $3.26 billion.

The world’s second-largest hamburger chain had time until October 12 to solicit a richer offer from other buyers.

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: ).

On Wednesday, the company continued to urge stockholders to tender their shares in favor of the deal with 3G Capital.

The tender offer and withdrawal rights are scheduled to expire at midnight on October 14.

(Reporting by Dhanya Skariachan, editing by Gerald E. McCormick)

Burger King sticks with 3G Capital as go-shop ends