Restaurant Brands has received a takeover notice from Finaccess Restauracion, stating its intention to acquire all ordinary shares in the company that it does not already own.

The proposed offer is priced at $5.05 per share in cash, with Finaccess stating that it will not increase this price.

The company said the notice is not a formal takeover offer and that under the Takeovers Code, Finaccess has 10 working days to make an offer. 

Should a full takeover offer be made, Restaurant Brands will issue a Target Company Statement within 10 working days, including an Independent Adviser’s report and a recommendation from the board.

Restaurant Brands has advised shareholders not to take any action at this stage, and to seek independent professional advice if they wish to sell their shares before any formal offer is made.