Industry News | April 30, 2002

Tricon Not Bidding for Burger King

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NEW YORK—April 30, 2002—Reuters Business Newswire reported this afternoon that David Novak, CEO of Tricon Global Restaurants Inc.'s (NYSE:YUM), said during a conference call today that his company will not submit a bid for the up-for-sale Burger King chain.

Word on the street is that at least five private investment firms have already offered bids to Diageo Plc, Burger King's parent company.