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Pantry Reports Results Of Tender Offer

The Pantry announces the final results of its offer to purchase senior subordinated notes. The Pantry Inc. released its final results of its offer to purchase any and all of its outstanding 7.75% senior subordinated notes due 2014 and solicitation consents from holders of the notes to effect certain proposed amendments to the indenture from

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Core-Mark Reports Quarterly Cash Dividend

Core-Mark Holding Company Inc., one of the largest marketers of fresh and broad-line supply solutions to the c-store retail industry in North America, announced its board of directors has declared a quarterly cash dividend of $0.17 per common share. The dividend is payable on Sept. 17, 2012 to shareholders of record as of the close

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The Pantry Announces Early Results Of Tender Offer

The Pantry Inc. announced early results of its offer to purchase any and all of its outstanding 7.75% senior subordinated notes due 2014 and solicitation of consents from holders of the notes to effect certain proposed amendments to the indenture governing the notes. As of 5 p.m. EST on Aug. 2, $198,856,000 in aggregate principal

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Susser Pursues Master Limited Partnership IPO Of Wholesale Fuel Business

“We believe this transaction will allow us to de-lever the convenience store portion of our business, reduce our cost of capital and further diversify our access to capital to fund our growth strategy,” says Susser CEO. Susser Holdings Corp.’s Board of Directors has approved the filing of a registration statement to effect an initial public

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Three-Fourths At Statoil Accept Couche-Tard’s Offer

More Statoil shareholders accept Alimentation Couche-Tard’s tender offer as of Tuesday. Alimentation Couche-Tard reports 77.7% of Statoil Fuel & Retail shareholders have accepted its takeover offer, an increase from 66.7% three weeks ago, after a large shareholder agreed to bid on Tuesday. Alimentation Couche-Tard declined to identify the shareholder, but said it was “very confident”

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Alimentation Couche-Tard Extends Statoil Offer

Alimentation Couche-Tard announces its offer to Statoil Fuel & Retail expires June 20. Alimentation Couche-Tard Inc. waived all conditions under its offer to Statoil Fuel & Retail, including but not limited to the 90% acceptance level as indcated in the offer document dated April 19.  The new extension period will expire on June 20, and

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Couche-Tard Extends Statoil Bid To June

Alimentation Couhce-Tard’s offer to acquire all of the shares of Statoil Fuel & Retail for NOK 51.20 per share in cash now expires in early June. Alimentation Couche-Tard Inc. announced that its voluntary offer to acquire all of the issued shares of Norwegian-based Statoil Fuel & Retail has been extended and will expire at 5:30

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Wawa Supports JOBS Act

“Wawa’s ability to grow and expand has a direct, positive impact on the communities in which we operate,” says Wawa CEO. Wawa participated in the White House ceremony to sign the Jumpstart Our Business Startups (JOBS Act), bipartisan legislation that will reduce the regulatory burdens on small businesses, enhancing their ability to grow and create

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Marathon Petroleum Corp. Receives Unsolicited Mini-Tender Offer

MPC urges shareholders to reject tender offer by TRC Capital Corp. Marathon Petroleum Corp. (MPC) has received notification of an unsolicited mini-tender offer by TRC Capital Corp. to purchase up to 2,000,000 shares (approximately 0.58%) of MPC’s outstanding common stock at a price of $41.50 per share. The offer price was 4.47% below the closing

Walgreens Announces Share Repurchase Program

The board of directors of Walgreen Co. has authorized a new $1 billion share repurchase program, which will expire at the end of 2012. The board also declared a regular quarterly dividend of 17.5 cents per share, a 27.3% increase over the year-ago dividend. The dividend is payable Dec. 11, 2010, to shareholders of record

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

Quest Oil Corp. Develops Three Phase Plan

Kerrville, Texas-based Quest Oil Corp. at the request of its shareholders and in response to numerous inquiries to the company after its acquisition of B&B Oil, has released a corporate overview on recent company developments. “Since the acquisition of B&B Oil by Quest, my team has been actively preparing inventories, replacing stock items, hiring work

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 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

Couche-Tard Responds

Alimentation Couche-Tard Inc. today responded to the announcement by Casey’s General Stores Inc. that it had authorized discussions with a third party regarding a preliminary non-binding proposal to acquire Casey’s: “We are pleased that Casey’s is now in ‘revlon’ mode given that the Casey’s Board of Directors has finally made the decision to put the

Couche-Tard Raises Bid

Alimentation Couche-Tard Inc. has increased its tender offer for Casey’s General Stores to $38.50 per share in cash, as Casey’s responds by advising its shareholders not to take any action as it reviews the revised bid. The revised offer of $38.50 is $0.50 per share higher than the price at which a majority of outstanding

Casey’s Fires Back

With a month till the annual Casey’s shareholders’ meeting on Sept. 23, a war of words is underway, with Casey’s and Couch-Tard vying for shareholder votes and fighting to prove they have the most to offer shareholders. In response to Couche-Tard’s most recent letter of appeal to shareholders, asking them elect its slate of eight

Couche-Tard Appeals To Casey’s Shareholders in Letter

Alimentation Couche-Tard Inc. is soliciting votes from shareholders of Casey’s General Stores ahead of their 2010 annual meeting set for Sept. 23. Couche-Tard has mailed a letter to shareholders along with its definitive proxy materials, as it hopes to sway shareholders to elect its slate of eight independent candidates to the Casey’s board of directors.

Sunoco Reports Q2 Results

Sunoco Inc. reported its 2010 second quarter results today, including a net income attributable to Sunoco shareholders of $145 million ($1.20 per share diluted) compared to a net loss attributable to Sunoco shareholders of $55 million ($.47 per share diluted) for the second quarter of 2009. “While market conditions during the second quarter remained challenging,

Couche-Tard Responds To Casey’s Rejection

Alimentation Couche-Tard Inc. has responded to Casey’s General Stores Inc.’s rejection of its increased tender offer from $36 to $36.75 per share in cash, which was announced on July 22, 2010. “We are disappointed that the Casey’s Board of Directors has rejected our increased $36.75 cash offer and has initiated a recapitalization for only 25%

Casey’s Announces $500 Million Recapitalization Plan

Ankeny, Iowa-based Casey’s General Stores Inc.’s board of directors has unanimously approved a $500 million recapitalization plan for the company and has reaffirmed its strategy to continue to execute upon its growth plan. The recapitalization plan is expected to be executed through a modified “Dutch auction” self tender offer for up to $500 million of

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