Couche-Tard Pays Nominees $20,000 Each

As it continues in its bid to acquire Casey’s General Stores, Alimentation Couche-Tard plans to pay each of its independent nominees to the Casey’s board more than $20,000, according to a preliminary proxy it filed with U.S. regulators, New Brunswick Business Journal reported.   The nine candidates are set to receive a one-time payment and

Couche-Tard Boosts Casey’s Bid

Alimentation Couche-Tard Inc. has increased its offer for Casey’s General Stores Inc. to $36.75 per share in an effort to persuade shareholders to back its takeover. The revised transaction has a total enterprise value of approximately $1.9 billion on a fully diluted basis, including net debt of Casey’s of approximately $28 million. Couche-Tard’s original offer was $36,

Couche-Tard Reports Strong Fourth Quarter, Fiscal 2010

Recent financial reports from Quebec-based Alimentation Couche-Tard Inc. might make it harder for Casey’s General Stores Inc. to convince shareholders to look the other way on Couche-Tard’s  bid to buy Casey’s for $36 per U.S. share. Couche-Tard, owner of Mac’s corner store in Canada and Circle K in the U.S., surpassed financial expectations for its

Couche-Tard Extends Offer for Casey’s

Casey’s General Stores still has more time to consider Alimentation Couche-Tard Inc.’s  tender offer to acquire all of the outstanding shares of common stock of Casey’s General Stores Inc. for $36.00 per share in cash. The offer, which previously had been scheduled to expire at midnight EST on July 9, has been extended by Couche-Tard,

Couche-Tard’s Bid Gains Appeal

A recent drop in the S&P 500 might help Quebec-based Alimentation Couche-Tard’s hostile US$1.9-billion ($36 per share) bid for Casey’s General Stores look like a more attractive option, an industry analyst told the Winnipeg Free Press. Martin Landry of Desjardins Securities told the paper that the 14% premium offered by Couche-Tard has increased in appeal

Investor Urges Casey’s To Negotiate Bid

ClearBridge Advisors, A New York investments firm with a large stake in Casey’s General Stores is encouraging the Ankeny, Iowa-based convenience store chain to hold talks with Couche-Tard. In a letter written Monday, ClearBridge Advisors said Casey’s owes it to shareholders to determine whether Alimentation Couche-Tard Inc. would raise its $36-per-share offer. “We agree that

Couche-Tard Reacts To Casey’s Lawsuit

Alimentation Couche-Tard Inc. has responded to the lawsuit filed by Casey’s General Stores Inc. in connection with Couche-Tard’s tender offer to acquire Casey’s for $36.00 per share in cash. “We believe this lawsuit is entirely without merit and we will vigorously defend against these baseless claims. We are disappointed that the Casey’s Board of Directors

Casey’s Files Lawsuit

Casey’s General Stores Inc. on Friday, June 11, filed a complaint in the U.S. District Court for the Southern District of Iowa against Alimentation Couche-Tard Inc., alleging that Couche-Tard violated federal securities laws in connection with its unsolicited tender offer to purchase all of Casey’s outstanding shares for $36.00 per share in cash. As announced

Iowa Helping Casey’s Fight

What a difference location can make. Casey’s, one of 12 public companies incorporated in Iowa, should be thankful right now it’s not incorporated in, say, Delaware where it might not have an much latitude to defend itself form Couche-Tard’s hostile bid. In the New York Times, Steven Davidoff, writing as The Deal Professor, who weighs

Casey’s: Couche-Tard Using “Questionable Tactics”

Casey’s General Stores Inc.’s Board of Directors voted to recommend that Casey’s shareholders reject Alimentation Couche-Tard Inc.’s $36.00 per common share cash tender offer, stating that it substantially undervalues Casey’s and is not in the best interests of Casey’s, its shareholders and other constituencies. On June 8, Casey’s filed a Schedule 14D-9 with the Securities

Couche-Tard Nominates Casey’s Board Candidates

Alimentation Couche-Tard Inc. has provided formal notice to Casey’s General Stores Inc. of its intention to nominate a slate of nine independent candidates for election to the Casey’s Board of Directors and present a proposal for shareholder action at Casey’s 2010 annual meeting of shareholders. “Though it remains our strong preference to enter into a

Law Office Conducts Investigation On Behalf of Casey’s Shareholders

The Law Offices of Howard G. Smith announced it is looking into potential claims against the board of directors of Casey’s General Stores Inc. related to the unsolicited purchase offer the company received from Alimentation Couche-Tard Inc. Couche-Tard is looking to acquire all outstanding shares of Casey’s for $36 per share in cash. The proposed

Couche-Tard Makes Unsolicited Bid for Casey’s Stores

Alimentation Couche-Tard Inc., the Canadian convenience-store chain, made an unsolicited bid for Casey’s General Stores Inc. for $36 a share in cash, BusinessWeek reported Couche-Tard offered the Ankeny, Iowa-based company, which operates more than 1,500 stores in the Midwest, 14% more than its closing price yesterday in Nasdaq Stock Market trading. Including about $29 million

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