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 transaction is valued at approximately $1.85 billion, including $29 million in assumed debt.
On April 9, 2010, Casey’s, which operates convenience stores in the Midwestern states, issued a press release stating that the company informed Couche-Tard on March 29, 2010, that Casey’s had rejected the proposal. The company also stated it is “rolling out our new store design” as part of a “significant store remodel and replacement initiative that will grow the business.” The investigation concerns potential breaches of fiduciary duty and other violations of law related to the proposed transaction by Casey’s General Stores’ board of directors.
Casey’s shareholders, who would like to learn more about these claims, or wish to discuss these matters or have any questions concerning this announcement or rights or interests with respect to these matters, can contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, at (888) 638-4847, email [email protected], or Web site at http://www.howardsmithlaw.com.