Was Burger King’s Takeover Offer Leaked?

Trading of bullish Burger King Holdings (BKC) options surged to a record Aug. 25, a week before the second-largest U.S. hamburger chain agreed to be acquired by 3G Capital, lifting the shares as much as 25 percent today. “You don’t see 30,000 options being accumulated in Burger King ever,” said Alec Levine, a strategist at Wallachbeth Capital LLC in New York. “It’s probable that it was leaked information about the deal, and they seemed to know the pricing and the timing.” – Bloomberg