Casey’s General Stores Inc. today announced that, based on a preliminary vote count provided by its proxy solicitor, shareholders have reelected by a wide margin all eight of the company’s incumbent directors to Casey’s Board of Directors at the Company’s Annual Meeting held earlier today, Sept. 23. The incumbent directors include: Diane C. Bridgewater, Johnny…
Couche-Tard To Casey’s: Reveal Terms of 7-Eleven Bid
Alimentation Couche-Tard Inc. challenges Casey’s to announce any developments relating to 7-Eleven’s non-binding preliminary bid on Sept. 2, ahead of the 2010 Annual Meeting of Shareholders scheduled for Sept. 23. “We believe that disclosure of 7-Eleven’s preliminary, non-binding indication of interest is yet another attempt to obfuscate the choices that have been presented to the…
Couche-Tard Would Increase Offer
Alimentation Couche-Tard Inc. is again appealing to Casey’s shareholders ahead of this week’s annual shareholders meeting set for Sept. 23. It urged shareholders to consider the following when voting: “7-Eleven has not made a formal offer to acquire Casey’s. Unlike Couche-Tard’s $38.50 per share fully-financed cash premium offer to acquire all of the outstanding shares…
Casey’s Confirms Discussions with 7-Eleven
Casey’s General Stores Inc. has officially confirmed that it has entered discussions with 7-Eleven Inc., regarding a potential acquisition. On Sept. 2, 2010, Casey’s received an unsolicited preliminary proposal from 7-Eleven regarding a consensual transaction at $40 per share in cash. As disclosed in Casey’s Schedule 14D-9 filed with the Securities and Exchange Commission on…
Couche-Tard Suggests That Casey’s Delay Annual Meeting
Alimentation Couche-Tard Inc. has sent a letter to the Board of Directors of Casey’s General Stores Inc. in response to the chain’s announcement that it has authorized discussions with 7-Eleven involving a possible acquisition after repeatedly rebuffing Couche-Tard’s offers for the company. In the letter, the company expressed its dismay with Casey’s refusal to discuss…
Casey’s To Acquire 52 Stores
Casey’s General Stores Inc. has released its first quarter of fiscal 2011 results ended July 31, 2010, and with it an announcement that it has signed commitments to acquire an additional 52 locations, which it anticipates purchasing by the end of the calendar year. Casey’s reported basic earnings per share of $0.73 and approximately $6.2…
Third Party Bids For Casey’s
Couche-Tard has some competition in its quest to acquire Casey’s General Stores Inc. Casey’s announced that it has received a preliminary proposal from a strategic third party regarding a consensual transaction at $40 per share in cash. Casey’s General Stores Inc.’s Board of Directors today, Sept. 7, unanimously recommended against Alimentation Couche-Tard Inc.’s revised tender…
Couche-Tard Responds
Alimentation Couche-Tard Inc. today responded to the announcement by Casey’s General Stores Inc. that it had authorized discussions with a third party regarding a preliminary non-binding proposal to acquire Casey’s: “We are pleased that Casey’s is now in ‘revlon’ mode given that the Casey’s Board of Directors has finally made the decision to put the…
Couche-Tard Raises Bid
Alimentation Couche-Tard Inc. has increased its tender offer for Casey’s General Stores to $38.50 per share in cash, as Casey’s responds by advising its shareholders not to take any action as it reviews the revised bid. The revised offer of $38.50 is $0.50 per share higher than the price at which a majority of outstanding…
Casey’s Reports Recapitalization Results
Casey’s General Stores Inc. has announced the preliminary results of its modified “Dutch auction” self tender offer, which expired on Aug. 25, 2010 at midnight New York City time, determining the recapitalization was a success. Based on the preliminary count, a total of approximately 28.2 million shares were validly tendered at the minimum purchase price…