Burger King Sale Falls Through

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Nov 25, 2002

London--Diageo Plc, parent company of Burger King, said in a statement to the London Stock Exchange that it was told Texas Pacific Group and its partners would not be able to complete the BK acquisition on previously agreed upon terms. A spokesperson said that Diageo remains in exclusive talks with TPG and its partners over buying the hamburger franchise, but is considering other options to pursue a new agreement on a deal. Some of those options could include Diageo maintaining a stake in BK, granting TPG more time to review the market and lowering the price. The company is not commenting on details in the talks. -CBS MarketWatch.com

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