Reuters: Global Markets: Burger King shares returning to public trade

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Burger King shares returning to public trade Jun 20th 2012, 13:22 Tweet Share this Email Print Related News Californian dream turns real as Kings hoist Cup Tue, Jun 12 2012 McDonald's May sales miss Street view as economy weighs Fri, Jun 8 2012 Starbucks buying San Francisco bakery chain Mon, Jun 4 2012 Analysis & Opinion Angus King and the rise of the independent Related Topics Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Hot Stocks » Asian Markets » Inflows Outflows » Burger King signs at a restaurant in Annandale, VA, August 24, 2010. Credit: Reuters/Kevin Lamarque Wed Jun 20, 2012 9:22am EDT (Reuters) - Burger King will become a public company again on Wednesday, less than two years after going private in a $3.26 billion sale to 3G Capital Management LLC, a Brazilian investment fund. Shares in the world's second-biggest hamburger chain will trade on the New York Stock Exchange under the ticker "BKW" (BKW.N) after closing of a $1.4 billion deal merging Burger King into Justice Holdings, a publicly held shell company cofounded by hedge fund veteran Bill Ackman. In the deal, Justice shareholders and founders wound up with about 29 percent of the shares, with 3G retaining 71 percent ownership and receiving $1.4 billion in cash, the company said. The deal and IPO from Burger King Worldwide Inc, known for its "Whopper" hamburgers, comes as it and other chains fight to keep up with fast-food leader McDonald's Corp (MCD.N). When the "reverse-merger" transaction was announced in April, Justice said it expected the fast-food chain's core profits in 2012 to almost double from 2010. (Reporting By Lisa Baertlein in Los Angeles; Editing by Gerald E. McCormick) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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