Burger King launching $5 meal deal ahead of McDonald’s, Bloomberg says

Restaurant Brands’ (QSR) Burger King is coming out with its own $5 meal deal and will launch the offer ahead of McDonald’s (MCD) similarly planned promotion, according to a memo obtained by Bloomberg News’ Daniela Sirtori. Earlier this month, Bloomberg News reported that McDonald’s was looking to launch a $5 meal deal in the U.S. but an earlier attempt to get franchisees to endorse the initiative failed amid worries the discounts wouldn’t be profitable, prompting McDonald’s to enlist funds from Coca-Cola (KO) to soften any potential hit, the report noted. The news service quotes the Burger King memo signed by the chain’s U.S. and Canada President Tom Curtis as having said: “Regardless of their plans, we are moving full speed ahead with our own plans to launch our own $5 value meal before they do – and run it for several months.”