Tim Hortons changes corporate structure

TORONTO Tim Hortons Inc. said Tuesday that its shareholders have approved the company’s reorganization plans to merge its U.S.-based subsidiaries into its Canadian corporation.

 

The move, which will require a conversion of stock from any holdings in the U.S. operation to stock in the new Tim Hortons Inc., will allow the company to take advantage of lower tax rates in Canada and realize operational and administrative efficiencies, it said.

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