Burger King franchisees to make buyback offer

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Burger King Corp.'s National Franchise Association announced last week its plans to make a formal offer to buy back the chain from parent Diageo. The group said it hired financial advisers to secure financing to make an offer to the parent company by yearend despite Diageo's plans to float 20% of company stock. Lowe Lintas & Partners Worldwide, New York, is Burger King's agency.

Copyright July 2000, Crain Communications Inc.

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