Law360, New York (September 07, 2010, 6:35 PM ET) -- Casey's General Stores Inc. said Tuesday that it has received a preliminary proposal to sell the company for more than $2 billion, an offer that would best a hostile takeover bid from Canada's Alimentation Couche-Tard Inc.
Casey's said an unnamed “strategic third party” had offered $40 per share in cash, which is $1.50 a share more than Couche-Tard's Sept. 1 offer of $38.50 per share.
Casey's said it believes the new offer is still not enough but that its board of directors has authorized discussions with...
Casey's Says $2B Rival Bid Tops Couche-Tard Offer
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