Tim Hortons in talks with Burger King

OAKVILLE, Ont. — Burger King and Tim Hortons have confirmed that they are in talks leading up to a deal that would see the U.S. burger chain buy the Canadian icon to create a publicly traded, Canadian-based company. 3G Capital, the majority owner of Burger King, will continue to own the majority of the shares of the new company on a pro forma basis, with the remainder held by existing shareholders of Tim Hortons and Burger King. Within this new entity, Tim Hortons and Burger King would operate as standalone brands, while sharing corporate services, best practices, and global scale and reach.