Diageo Edges Toward Burger King Buyout
London-Britain's Diageo Plc is expected to take a few more months before finally coming down in favor of a management-led leveraged buyout for its Miami-based Burger King chain (see "Burger King & Texas Pacific Discuss Potential Leveraged Buyout,"). Burger King chairman and chief executive John Dasburg, who is expected to lead a buyout, favors a leveraged buyout as the best way to reinvigorate the group's sagging sales. A decision to sell Burger King is expected early next year, just ahead of a U.S. re-launch of the brand in February or March. -Reuters
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