Wednesday, October 25, 2006

Near upset in Europe?

A $916 million bid for the European quick-service chain Quick has muted rumblings that the powerhouse brand would be acquired by Burger King.

The move would’ve been a brilliant flanking operation by the Home of the Whopper, giving it a dominant concept in the heart of the European Union. Belgium-based Quick reputedly outperforms McDonald’s in the French, Belgian and North African markets served by its 400 burger outlets.

Instead, Quick Restaurants SA said it fielded a friendly takeover bid from the French private-equity giant CDC Capital Investissements. Quick said it would exclusively deal with CDC to finalize a deal.

CDC’s per-share bid of $47.48 (or €37.8) outstripped the $43.98 (€35) offer that analysts had expected from Burger King Holdings, according to the Associated Press.


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