Burger King to buy franchisee Carrols Restaurants for a 13% premium

Burger King, which is owned by Restaurant Brands International Inc. QSR, +0.33%, announced Tuesday an agreement to buy Burger King franchisee Carrols Restaurant Group Inc. TAST, +0.72% in a deal valued at $1 billion. Under terms of the deal, Carrols shareholders will receive $9.55 in cash for each Carrols share they own, which represents a 13.4% premium over Friday’s closing price of $8.42. The stock was halted for news in the premarket until 7:30 a.m. Eastern, while Restaurant Brands shares were indicated ...