Restaurant Brands is said to have held talks to buy Subway that failed

Subway Food Store High Street Chain

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  • Restaurant Brands International (NYSE:QSR), the owner of Burger King and Tim Hortons, is said to have held informal talks to purchase Subway Restaurants earlier this year. QSR fell 3.2% in premarket trading.
  • The talks ended at least partly over disagreement on price, according to a New York Post report. After the talks soured, QSR agreed to buy to Subway’s smaller sandwich competitor Firehouse Subs for $1.1B last week.
  • The death of Peter Buck, the co-founder of Subway last week, is also likely to complicate any future sale of the chain, according to the report. Sources told the paper Subway may be be worth $8B-$10B in sale.
  • Subway declined to comment specifically about the QSR talks, though said in a statement to the New York Post that the sandwich maker "is not for sale."
  • Business Insider reported in April that Restaurant Brands (QSR) and Inspire, owner of Buffalo Wild Wings and Arby's chains, had done due diligence into a potential Subway purchase.
  • Recall April, Subway may start a sales process in third or fourth quarter, NYPost says.

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