NEW YORK: Canadian coffee-and-doughnut chain Tim Hortons Inc is under pressure from one of its top investors to boost profitability through moves like buying back shares with borrowed money or paring back in the United States, according to documents seen by Reuters and two sources familiar with the matter on Tuesday.
Hedge fund Highfields Capital, which owns about 1.5 percent of the company, wants Tim Hortons to borrow $3.4 billion to buy back more than one-third of its outstanding shares at $59 apiece, the documents show.
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