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US: Burger King hires former Congressmen to handle inversion merger backlash

 |  October 9, 2014

Burger King has hired a team of former lobbyists to advise on its planned merger with Canada’s Tim Hortons, a deal that has raised eyebrows as it will allow Burger King’s parent company to relocate its headquarters outside of the US for lower tax rates.

Reports say the team includes former Representatives Vic Fazio (D-CA) and Bill Paxon (R-NY) along with other lobbyists at Akin Gump to help Burger King maneuver obstacles met through its $11.5 billion merger with the Canadian company.

The merger, first announced in August, was met with a storm of criticism for Burger King’s plans to leave the US. Last month, the Treasury Department unveiled new proposals to make it more difficult for these types of inversion deals, though the new rules will not affect the Burger King deal, say reports.

Several lawmakers have also called for the fast food chain to rethink the merger, while President Barack Obama has labeled companies pursuing inversion mergers as “corporate deserters.”

Full content: The Hill

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