Timmys is buying Popeyes, no word on what Olive thinks

By Canadian Press

Published: February 21, 2017 at 2:57 PM

"Milton, Canada - June 26, 2011: Lemon poppyseed loaf with blurred but recognizable Tim Horton's coffee cup in the background. Tim Horton's is a popular Canadian food establishment and is often used colloquially as a symbol of Canada."iStock/Stacey Newman

The parent company of Tim Hortons and Burger King says it will pay US1.8 billion cash to buy the Popeyes chain of chicken restaurants in a friendly deal.

The parent company of Tim Hortons and Burger King says it will pay US$1.8 billion cash to buy the Popeyes chain of chicken restaurants in a friendly deal.

Restaurant Brands International is offering US$79 per share of Popeyes, best known for its Louisiana-style fried chicken.

The proposed takeover requires various approvals and sufficient shareholder support but Restaurant Brands International expects the deal to close by early April.

Restaurant Brands International has more than 20,000 restaurants in more than 100 countries.

Popeyes would add 2,600 restaurants in the United States and other countries including Canada.