Print this articleEmail this article Burger King Holdings Inc, the No 2 US fast-food chain, agreed to be bought by investment firm 3G Capital for US$24 per share, or about US$3.26 billion.

The deal represents a 46 per cent premium to Burger King's share price before news of the deal talks emerged on Wednesday, the companies said.

Including the debt that 3G will assume, the deal is worth about US$4 billion, the company said yesterday. The transaction is expected to close in the last three months of 2010.

TPG Capital LP, Goldman Sachs Capital Partners and Bain Capital Investors collectively own about 31 per cent of Burger King's shares and will tender their shares into the offer, which is due to begin Sept 17. Burger King has lagged rival McDonald's Corp and other fast food chains as its key customer base takes a deeper hit from persistently high unemployment rates.

Reuters