A buyout deal for Burger King Holdings Inc (BKC.N) by investment firm 3G Capital is being valued at $24 per share, or about $4 billion, cable business channel CNBC reported on Thursday.
Shares of Burger King, the No. 2 U.S. hamburger chain, surged 23 percent to $23.20 after the report. They had gained nearly 15 percent on Wednesday after news of a potential deal first emerged.
Burger King has lagged larger rival McDonald's Corp (MCD.N) and other fast food chains as its key customer base takes a deeper hit from persistently high unemployment rates.
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