Popeyes is soaring on news it's being acquired by the owner of Burger King
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Popeyes is up 19.16%, or $12.67, at $78.79 a share on Tuesday morning amid news that Restaurant Brands International is buying it for $1.8 billion. Restaurant Brands is the company that owns both Burger King and Tim Horton.
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The company will fund the transaction with cash on hand and financing from J.P. Morgan and Wells Fargo.
The transaction is expected to close by early April 2017.
See Also: The owner of Burger King is buying Popeyes for $1.8 billion
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