Couche-Tard Raises Casey’s Takeover Bid To $2B

Law360, New York (September 1, 2010, 2:26 PM EDT) -- Canada-based Alimentation Couche-Tard Inc. upped its offer for Casey's General Stores Inc. to $2 billion Wednesday after failing to gain support for an earlier hostile takeover bid in the face of board opposition.

The new offer of $38.50 per share replaces Couche-Tard's earlier offer of $36.75 per share and is 50 cents more per share than what Casey's offered shareholders in its own tender offer aimed at fending off the hostile bid.

Casey's announced Tuesday that it had purchased about 25.8 percent of its shares through...
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