Berkshire To Convert Burger King/Tim Horton’s Warrants on December 12

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Berkshire Hathaway B shares Warren Buffett

By Dr. David Kass PhD, Harvard University When Burger King’s (BKW)  acquisition of Tim Horton’s (THI) closes on December 12, Berkshire Hathaway (BRK.A, BRK.B) will purchase $3 billion of 9% preferred shares and receive a warrant to purchase 1.75% of the common shares of the combined company at an exercise price of $0.01 per common share.  Berkshire has informed Burger King that it intends to exercise the warrant promptly following the closing of the transaction.  Berkshire will then own 8.4 million shares with a current market value of about $275 million. Although the preferred shares will result in Berkshire receiving annual dividends…

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