Buying Group Wants BK Deal Its Way –

With Burger King having lost its financial sizzle lately, the buying group for the fast food chain has officially scrapped the initial $2.26 billion offer. While none of the participating bidders would comment on the details, the revised deal could reportedly drop to as low as $1.5 billion.

Diageo, who is selling Burger King, confirmed that the original $2.26 billion deal was thrown out after the buying group, which includes Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners, decided to walk away from the previous terms. The divergence between the two parties stems from recent