After Casey’s shareholders rejected Couche-Tard’s nominees for the board of directors last week, and instead reelected its standing board, analysts are weighing in on whether or not Couche-Tard is out of the game and whether 7-Eleven will come through with a bid. U.S. billionaire and hedge fund manager Steven Cohen, founder of SAC Capital Advisors…
Couche-Tard Responds To Casey’s Rejection
Alimentation Couche-Tard Inc. has responded to Casey’s General Stores Inc.’s rejection of its increased tender offer from $36 to $36.75 per share in cash, which was announced on July 22, 2010. “We are disappointed that the Casey’s Board of Directors has rejected our increased $36.75 cash offer and has initiated a recapitalization for only 25%…
Casey’s Files Lawsuit
Casey’s General Stores Inc. on Friday, June 11, filed a complaint in the U.S. District Court for the Southern District of Iowa against Alimentation Couche-Tard Inc., alleging that Couche-Tard violated federal securities laws in connection with its unsolicited tender offer to purchase all of Casey’s outstanding shares for $36.00 per share in cash. As announced…
Couche-Tard Reacts To Casey’s Lawsuit
Alimentation Couche-Tard Inc. has responded to the lawsuit filed by Casey’s General Stores Inc. in connection with Couche-Tard’s tender offer to acquire Casey’s for $36.00 per share in cash. “We believe this lawsuit is entirely without merit and we will vigorously defend against these baseless claims. We are disappointed that the Casey’s Board of Directors…
ISU Wins Krause Challenge
Kum & Go L.C. announced that Iowa State University is the 2010 winner of the Krause Challenge. Launched in 1998 by W.A. Krause, founder and chairman of Kum & Go, the Krause Challenge gives finance students at The University of Northern Iowa, Drake University, Iowa State University and the University of Iowa real world investment…
Couche-Tard Takes Hostile Bid to Casey’s Shareholders
By John Lofstock, Editor Under CEO Alain Bouchard, Alimentation Couche-Tard has grown to be one of the largest convenience store operators in world. The Laval, Quebec-based chain today took its boldest step to date when it commenced an all-cash offer to acquire Casey’s General Stores, the Iowa chain currently operating 1,513 stores throughout the Midwest.…
ExxonMobil Donates $7.9 Million for Education
ExxonMobil and its employees donated more than $7.9 million to a total of 83 educational institutions across Texas through the ExxonMobil Foundation’s 2009 Educational Matching Gift Program. ExxonMobil employees, retirees, surviving spouses and directors made 1,718 individual contributions totaling over $2.3 million to institutions of higher education across Texas. ExxonMobil Foundation matched those donations with…
Gasoline Prices Pushing Higher
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Gasoline prices at retail outlets across the country are again moving higher after the uptrend briefly stalled in several metropolitan markets with a downturn in wholesale costs. However, wholesale gasoline costs are again on the march higher, pushed up primarily by a bullish market sentiment. There…
7-Eleven Looks To Las Vegas
Dallas-based 7-Eleven Inc. is ready to expand in Las Vegas, with 15-20 more stores in the next three years. Starbucks, meanwhile has closed 12 locations in the area, Las Vegas Review Journal reported. The c-store chain already runs 160 convenience stores in Clark County, Las Vegas, but recently hired a commercial real estate firm to…
Victory For RaceTrac
Atlanta-based RaceTrac Petroleum has been awarded more than $3.4 million from a Financial Industry Regulatory Authority (FINRA) arbitration panel for damages the gas station chain sustained after it invested in the Bear Stearns hedge funds that imploded in 2007, Hedgefund.net reported. The FINRA arbitration award was issued in December, but was recently announced via the…