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Date: August 26, 2014 at 8:22:14 PM GMT+8
Subject: CNN Breaking News
Burger King and Canadian coffee and doughnut chain Tim Hortons have announced they are merging, a deal that would allow the burger seller to move out of the U.S. and possibly cut its tax bill.
The merged company will be based in Canada and have 18,000 restaurants worldwide.
By moving north of the border, Burger King would be completing what is called an "inversion" -- a strategy that allows U.S. firms to lower their tax bills by merging with a foreign company, and then relocating to the new country.
Corporate tax rates are lower in Canada than in the U.S.
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