(Reuters) - Burger King Worldwide Inc agreed to buy Canadian coffee and doughnut chain Tim Hortons Inc in cash and stock to create the third-largest quick service restaurant group with sales of about $23 billion.
Tim Hortons shareholders will receive C$65.50 in cash and 0.8025 shares of the new company for every share they own, the companies said in a joint statement.
(Reporting by Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)
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