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.

The offer is 14 percent more than Ankeny, Iowa-based Casey’s closing price yesterday in Nasdaq Stock Market trading. Including about $29 million in debt, the deal has an enterprise value of about $1.9 billion, Couche-Tard said today in a statement.

Couche-Tard said it made the proposal public after Casey’s board unanimously rejected it. A telephone message left for Bill Walljasper, Casey’s chief financial officer, wasn’t immediately returned.

Read Full Article from BusinessWeek

- Posted: 2010-04-09 08:54:53

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