Casey's Rejects Buyout Offer

The convenience store industry last week was still waiting for the next shoe to drop in a developing standoff between Casey's General Stores and a larger Canadian counterpart, Alimentation Couche-Tard. The board of directors of Casey's here rejected a hostile takeover attempt from Couche-Tard, saying the $1.9 billion offer vastly undervalues Casey's and our future prospects. Couche-Tard's

ANKENY, Iowa — The convenience store industry last week was still waiting for the next shoe to drop in a developing standoff between Casey's General Stores and a larger Canadian counterpart, Alimentation Couche-Tard.

The board of directors of Casey's here rejected a hostile takeover attempt from Couche-Tard, saying the $1.9 billion offer “vastly undervalues Casey's and our future prospects.”

Couche-Tard's offer of $36 per share — a 14% premium on Casey's closing share p

Register to view the full article

test - Advanced Registered User

Already a member? .