That's a lot of Whoppers... Shares of Burger King Holdings (BKC) surged for the second day as the burger-and-fries chain agreed to be taken private by 3G Capital for $4 billion, with the assumption of the company's debt. Burger King shares were soaring 24% to $23.43 in midday trading on nearly 31 times their average trading volume. Burger King shareholders will receive $24 in cash per share, a 45.9% premium to Burger King's closing price Tuesday, before rumors of the buyout began circulating on Wall Street. It will be the second time in eight years that Burger King has taken itself private.
Damn the second time, quite interesting. Seems like private equity deals are starting to pick up. I remember back in 2007 when everyday there was another private equity deal being done, pretty much marked the top the credit crisis at that time.