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AP Photo/Mark Lennihan

Restaurant Brands International (TSX: QSR), the 3G Capital-backed owner of Burger King and Tim Hortons, has approached Popeyes Louisiana Kitchen (Nasdaq: PLKI) about a takeover, according to Reuters. Popeyes shares climbed 14% on the news yesterday, giving it a market cap of around $1.6 billion. Shares today are sinking, however, after a late-night NY Post suggestion that the Reuters info is out of date, and that RBI lost interest in Popeyes late last year.

• Why it's the BFD: RBI's approach suggests that it is seeking to expand its U.S. presence by purchasing new assets that don't compete too directly with Burger King or Tim Hortons (from a menu perspective). Even if Popeyes isn't the ultimate target, that doesn't mean that some other billion dollar-plus chain won't get gobbled up.

• Bottom line: The best way to gauge the likelihood of this deal happening is probably to stake out a pair of Popeyes stores on Dodge St. and West Broadway St. in Omaha, Nebraska. Those are the ones closest to Warren Buffett's office and, whenever 3G Capital is involved in buying something , the fast food-loving Oracle is almost certain to have a hand in it.

Go deeper

1 hour ago - Health

Standardized testing becomes another pandemic victim

Photo: Edmund D. Fountain for The Washington Post via Getty

National standardized reading and math tests have been pushed from next year to 2022, the National Center for Education Statistics (NCES) announced Wednesday.

Why it matters: There’s mounting national evidence that students are suffering major setbacks this year, with a surge in the number of failing grades.

2 hours ago - World

European countries extend lockdowns

A medical worker takes a COVID-19 throat swab sample at the Berlin-Brandenburg Airport. Photo by Maja Hitij via Getty

Recent spikes in COVID-19 infections across Europe have led authorities to extend restrictions ahead of the holiday season.

Why it matters: "Relaxing too fast and too much is a risk for a third wave after Christmas," said European Commission President Ursula von der Leyen.

2 hours ago - Health

Africa CDC: Vaccines likely won't be available until Q2 of 2021

Africa CDC director Dr. John Nkengasong. Photo: Mohammed Abdu Abdulbaqi/Anadolu Agency via Getty

Africa may have to wait until the second quarter of 2021 to roll out vaccines, Africa CDC director John Nkengasong said Thursday, according to the Associated Press.

Why it matters: “I have seen how Africa is neglected when drugs are available,” Nkengasong said.