Just when you thought that Burger King is cheap, it gets sold for $3.3 Billion to 3G Capital, or $24/share, which is very close to the $23/share lowball offer possibility that I discussed yesterday, when I assumed that the company will be valued at 17 times EPS (so the offer was really valuing the company at about 18 times EPS).

BKC jumped 25% today, to $23.59/share. Volume was 80 millions shares, and it was 40 times the average volume.

Do I regret that I haven’t bought BKC yesterday (at least a few hundred shares), maybe. But then again, in this line of work, one has to accept the fact that he can never always get it right.

I still don’t like Burger King, but I do think that the business has huge potential and it was sold for a fair value.