The Globe reports today that Tim Horton’s IPO will be handled largely by U.S. and not Canadian underwriters. Interesting enough if you’re involved in this business, I suppose. But what struck me as interesting is wondering what U.S and Canadian counsel will charge for their services in this IPO.
{ 1 comment… read it below or add one }
This is one more of many examples of why foreign ownership matters. One loses the ‘head office’ jobs and jobs that revolve around head offices, like underwriting, i.e. the high value, interesting ones. Tim Hortons has been a US company since Wendys bought it years ago – Canadians like to forget that, and this news is a strong reminder. It probably won’t keep Canadians from buying shares on the IPO, though, unless the US brokers don’t bother to make them available to us.