Industry News | July 24, 2002

BK Buyout Expected to Close Today

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The buyout deal between Diageo PLC and Texas Pacific is nearing a close, according to The Wall Street Journal. Inside sources told reporters at the Journal that the two groups are in "advanced discussions" and are close to reaching a resolution. In fact, reported the Journal, a deal could be made as earlier as this afternoon.

Texas Pacific is expected to pay between $2.1 and $2.3 billion for Burger King.