Core-Mark to service approximately 980 Couche-Tard corporate stores within Couche-Tard’s Southwest, Southeast, Gulf Coast and Florida markets. Core-Mark Holding Co. Inc., one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America, is set to become the broadline supplier to the Circle K stores in the Southeastern…
Couche-Tard Announces Share Repurchase Program
Alimentation Couche-Tard Inc. announced that The Toronto Stock Exchange has approved its share repurchase program. The company is now authorized to repurchase up to 2,685,335 Class A multiple voting shares (representing 5 % of the 53,706,712 Class A multiple voting shares issued and outstanding) and 11,621,801 Class B subordinate voting shares (representing 10 % of the 116,218,014…
Couche-Tard Walks Away
Alimentation Couche-Tard Inc. has allowed its tender offer to acquire all of the outstanding shares of Casey’s General Stores Inc. for $38.50 per share in cash to expire at 5:00 p.m., New York City time, on Sept. 30, 2010. At the expiration of the offer, certain conditions to the offer had not been satisfied and…
Is Couche-Tard Out?
After Casey’s shareholders rejected Couche-Tard’s nominees for the board of directors last week, and instead reelected its standing board, analysts are weighing in on whether or not Couche-Tard is out of the game and whether 7-Eleven will come through with a bid. U.S. billionaire and hedge fund manager Steven Cohen, founder of SAC Capital Advisors…
Breaking News: Shareholders Reelect Casey’s Board
Casey’s General Stores Inc. today announced that, based on a preliminary vote count provided by its proxy solicitor, shareholders have reelected by a wide margin all eight of the company’s incumbent directors to Casey’s Board of Directors at the Company’s Annual Meeting held earlier today, Sept. 23. The incumbent directors include: Diane C. Bridgewater, Johnny…
Couche-Tard To Casey’s: Reveal Terms of 7-Eleven Bid
Alimentation Couche-Tard Inc. challenges Casey’s to announce any developments relating to 7-Eleven’s non-binding preliminary bid on Sept. 2, ahead of the 2010 Annual Meeting of Shareholders scheduled for Sept. 23. “We believe that disclosure of 7-Eleven’s preliminary, non-binding indication of interest is yet another attempt to obfuscate the choices that have been presented to the…
Couche-Tard Would Increase Offer
Alimentation Couche-Tard Inc. is again appealing to Casey’s shareholders ahead of this week’s annual shareholders meeting set for Sept. 23. It urged shareholders to consider the following when voting: “7-Eleven has not made a formal offer to acquire Casey’s. Unlike Couche-Tard’s $38.50 per share fully-financed cash premium offer to acquire all of the outstanding shares…
Casey’s Confirms Discussions with 7-Eleven
Casey’s General Stores Inc. has officially confirmed that it has entered discussions with 7-Eleven Inc., regarding a potential acquisition. On Sept. 2, 2010, Casey’s received an unsolicited preliminary proposal from 7-Eleven regarding a consensual transaction at $40 per share in cash. As disclosed in Casey’s Schedule 14D-9 filed with the Securities and Exchange Commission on…
Couche-Tard Acquires 12 Stores in Indiana
Alimentation Couche-Tard Inc., through its wholly-owned indirect subsidiary, Mac’s Convenience Stores LLC, is set to acquire 12 stores in the Indianapolis, Ind., area from Crystal Flash Petroleum LLC, which operates under the “Crystal Flash” banner. The transaction is anticipated to close in September 2010 and is subject to standard regulatory approvals and closing conditions. According…
Couche-Tard Suggests That Casey’s Delay Annual Meeting
Alimentation Couche-Tard Inc. has sent a letter to the Board of Directors of Casey’s General Stores Inc. in response to the chain’s announcement that it has authorized discussions with 7-Eleven involving a possible acquisition after repeatedly rebuffing Couche-Tard’s offers for the company. In the letter, the company expressed its dismay with Casey’s refusal to discuss…