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Burger King, Tim Hortons new tax rules won't affect merger

Reuters

LOS ANGELES (Reuters) - Burger King Worldwide (BKW.N) and Tim Hortons Inc (THI.TO) on Tuesday said their $11.5 billion (7.01 billion pounds) merger is "moving forward as planned," as new Treasury Department rules on corporate tax inversions take effect.

"This deal has always been driven by long-term growth and not by tax benefits," the companies said in a joint statement.

Fast-food burger chain Burger King is in the midst of inverting to Canada in a deal with coffee and doughnut seller Tim Hortons.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Chizu Nomiyama)