Couche-Tard To Nominate Casey's Board Directors As It Looks To Secure Takeover At Favourable Price

Canadian convenience-store operator Alimentation Couche-Tard has stepped up its hostile takeover bid for US-based Casey's General Stores by revealing it will nominate nine directors for election at Casey's Annual General Meeting. The firm will urge Casey's shareholders to select its own directors after the current management refused to enter into takeover talks and warned it could adopt a 'poison pill' defence if it were to bypass the directors and make an offer directly to shareholders. Couche-Tard is clearly intent on securing the business for an attractive price and looks like it may be prepared to walk away rather than pay

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