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Couche-Tard Nominates Board Slate for Casey’s

MONTREAL — Alimentation Couche-Tard on Thursday said it has mailed proxy materials to shareholders of its takeover target Casey’s General Stores, pushing for acceptance of its offer to acquire the convenience store chain and to elect a slate of eight board members at Casey’s annual meeting in September.

MONTREAL — Alimentation Couche-Tard on Thursday said it has mailed proxy materials to shareholders of its takeover target Casey’s General Stores, pushing for acceptance of its offer to acquire the convenience store chain and to elect a slate of eight board members at Casey’s annual meeting in September.

The letter to shareholders argued that Casey’s recapitalization plan was an attempt to “distract” shareholders from its offer, and that the private debt placement used to finance that offer was coercive and designed to “entrench management.” Its offer to buy Casey’s, a convenience store operator based in Ankeny, Iowa, expires Aug. 30 if not extended.