Company waits longer for shareholder response
Alimentation Couche-Tard agreed to extend its proposed expansion offer to Statoil Fuel’s until May 29.
The $2.68 billion U.S. offer has the support of Statoil ASA, the oil company that owns 54% of the Scandanavian convenience store operations, gut Couche-Tard requires acceptance by 90% of Statoil Fuel’s shareholders.
Canada’s largest operator of convenience stores was disappointed by the response it has receive from Statoil’s minority shareholders. The Montreal-area company said the offer is fair and that there is no other potential buyer showing interest in Statoil Fuel & Retail.
