Investor Warren Buffett will help finance Burger King's aggressive move to acquire Canadian doughnut chain Tim Horton's, according to the Wall Street Journal. The move holds numerous upsides for the also-ran (but still giant) Burger King. The two most significant are a possible "tax inversion" scenario that would put BK's headquarters in Canada, reducing its US tax burden, and a surge in the breakfast wars. Buffet know a lot about business, of course, but he's got his own boots on the ground in the battle for fast food breakfast dominance. The Sage of Omaha, as Buffett is called, is known to eat breakfast at McDonald's frequently--favoring the sausage and egg sandwich.
Burger King CEO Daniel Schwartz, 33, probably won over Buffett the same way he wins everybody else over, by getting his hands dirty and taking what only seems like risks. Business Insider noted that when Schwartz took over he "spent his first couple of months training in Burger King restaurants — cleaning toilets, making burgers, and interacting with customers." Then he fixed the menu and streamlined operations. Buffett tends to like that kind of thing. Buffett's company Berkshire Hathaway told the Journal it will put in 25% of the financing on the nearly $10 billion deal.
[Feel Like Buying Something?]