> Warren Buffett Blog: Warren Buffett says Burger King acquisition is not tax related

Wednesday, September 3, 2014

Warren Buffett says Burger King acquisition is not tax related

Warren Buffett has defended his involvement in a tax inversion deal that will transfer Burger King’s headquarters to Canada as part of its $11.4bn acquisition of coffee and doughnuts chain Tim Hortons.

Mr Buffett, whose conglomerate Berkshire Hathaway will provide $3bn of financing for the deal, said Tim Hortons’ strong roots in Canada and limited presence in the US was the main reason for moving the combined company’s headquarters north of the border, rather than tax.

“Tim Hortons earns more money than Burger King does. I just don’t know how the Canadians would feel about Tim Hortons moving to Florida. The main thing here is to make the Canadians happy.”