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BREAKING NEWS: CNBC'S DAVID FABER REPORTS: BURGER KING TO BE ACQUIRED BY 3G FOR $24/SHARE

WHEN: Today, Thursday, September 2nd at 8AM ET

WHERE: CNBC's "Squawk Box"

Following is the unofficial transcript. All references must be sourced to CNBC.

CARL QUINTANILLA: OUR DAVID FABER IS REPORTERING ON THIS BURGER KING DEAL, WHICH HAS BEEN IN THE NEWS FOR A COUPLE DAYS NOW. THIS IDEA THAT THEY ARE IN ADVANCED TALKS TO SELL THEMSELVES TO 3G CAPITAL AND GO PRIVATE. FABER REPORTS THAT THEY DEAL WILL BE ANNOUNCED SHORTLY. $24 A SHARE IN CASH. FOUR BILLION DOLLARS ON THE NOSE, IS THE AMOUNT OF THE DEAL. THIS BRAZILIAN FIRM 3G IS IN FACT THE BUYER. LEVERAGE IS ABOUT 6 TIMES PURCHASE PRICE NINE TIMES EBITDA. A 46 PERCENT PREMIUM TO STOCK PRICE BEFORE IT STARTED RUNNING.

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