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"Soon, soon," the minister said, when asked by
Reuters when a decision could be expected. "Before Christmas,"
he added.
Canada's Competition Bureau had last month already given its
stamp of approval to the cash-and-stock deal worth C$12.64
billion ($11.25 billion). Moore has to decide on whether the
foreign takeover is of net benefit to Canada.
A source familiar with the process told Reuters last week that
Industry Canada had asked the companies for a 30-day extension
on the review, beyond the initial 45-day review period.
Competition and anti-trust law experts however, say that a
request for an extension on a deal of this magnitude and size is
quite typical and not necessarily indicative of any hurdles or
issues with a deal.
In August, Burger King agreed to buy Tim Hortons in a
transaction which would create the world's third-largest
fast-food restaurant group. Burger King plans to headquarter the
new combined-entity in Canada, following the close of the deal.
(Additional reporting by Euan Rocha in Toronto; Writing by
Randall Palmer; Editing by Chizu Nomiyama)
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