Casey's Rejects Couche-Tard Again; Announces Recapitalization

The board of directors of Casey's General Stores again asked its shareholders to reject a revised takeover offer from Canadian counterpart Alimentation Couche-Tard, and instead announced a plan to buy back $500 million of its own stock at a higher price per share.

ANKENY, Iowa — The board of directors of Casey's General Stores here on Wednesday again asked its shareholders to reject a revised takeover offer from Canadian counterpart Alimentation Couche-Tard, and instead announced a plan to buy back $500 million of its own stock at a higher price per share.

The $500 million recapitalization would be executed through a "Dutch auction" self-tender offer at share prices between $38 and $40 per share, Casey's said. Couche-Tard's latest tender

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