Alimentation Couche-Tard Inc. has provided formal notice to Casey’s General Stores Inc. of its intention to nominate a slate of nine independent candidates for election to the Casey’s Board of Directors and present a proposal for shareholder action at Casey’s 2010 annual meeting of shareholders. “Though it remains our strong preference to enter into a…
Casey’s Rejects Unsolicited Couche-Tard Bid
Following an unsolicited proposal from Alimentation Couche-Tard, Casey’s General Stores stock grew 20.7% to $38.10 in premarket trading Monday after the company unanimously rejected the offer, The Street reported. Casey’s received the unsolicited buyout proposal for $36 a share in cash on March 9. In a statement released on April 9, Casey’s said “the board…
Couche-Tard Makes Unsolicited Bid for Casey’s Stores
Alimentation Couche-Tard Inc., the Canadian convenience-store chain, made an unsolicited bid for Casey’s General Stores Inc. for $36 a share in cash, BusinessWeek reported Couche-Tard offered the Ankeny, Iowa-based company, which operates more than 1,500 stores in the Midwest, 14% more than its closing price yesterday in Nasdaq Stock Market trading. Including about $29 million…