Couche-Tard Makes Hostile Bid For Casey's

US-based Casey's General Stores has rejected a hostile takeover bid from Canadian convenience-store operator Alimentation Couche-Tard. The bid of US$36 a share represents a 14% premium on Casey's closing price on April 8 2010 and values the firm at around US$1.9bn. Casey's has said that the bid significantly undervalues the business and would not be in the interests of the corporation. Casey's also expressed its disappointment that the bid had been made public, with Couche-Tard clearly looking to win the support of Casey shareholders after the company's management rejected the

To read the full article, please choose one of the following options: