Warren Buffett’s Berkshire Hathaway Inc. is providing financing for Burger King Worldwide Inc.’s planned takeover of Tim Hortons Inc., the latest deal being backed by a commitment from the billionaire.
Berkshire will invest $3 billion for preferred equity, according to an Aug. 26 statement from the restaurant companies that didn’t state the annual dividend on the stake. Buffett has previously injected capital into financial firms like Goldman Sachs Group Inc. and Bank of America Corp. at times of crisis, and helped fund deals such as Mars Inc.’s purchase of Wm. Wrigley Jr. Co.
