On Sept. 2, , the company and 3G Capital announced that Burger King and certain entities controlled by 3G Capital had signed a definitive merger agreement pursuant to which the tender offer would be made. The company’s board of directors has unanimously approved the terms of the merger agreement, including the tender offer.
After completion of the tender offer and the satisfaction or waiver of all conditions, the company will merge with Blue Acquisition Sub Inc. and all outstanding shares of the company’s common stock, other than shares held by Blue Acquisition Holding Corporation, Blue Acquisition Sub Inc. or the company or shares held by the company’s stockholders will be cancelled and converted into the right to receive cash equal to the $24.00 offer price per share.
In certain cases, the parties have agreed to proceed with a one-step merger transaction if the tender offer is not completed.
Blue Acquisition Holding Corporation and Blue Acquisition Sub Inc. are filing with the Securities and Exchange Commission (S.E.C.) on Sept. 16 a tender offer statement on Schedule TO, including an offer to purchase and related letter of transmittal, setting forth in detail the terms of the tender offer. Burger King is filing with the S.E.C. today a solicitation/recommendation statement on Schedule 14D-9 setting forth in detail, among other things, the recommendation of the company’s board of directors that the company’s stockholders tender their shares into the tender offer.
The tender offer and withdrawal rights are scheduled to expire at midnight, Eastern time, on Oct. 14, 2010, unless extended or earlier terminated.