FaegreBD Reps Couche-Tard In $1.7B Convenience Store Deal
Law360, New York (December 18, 2014, 2:10 PM EST) -- Faegre Baker Daniels LLP guided Alimentation Couche-Tard Inc. in a $1.7 billion deal announced Thursday to acquire rival The Pantry Inc., expanding the Canadian convenience store company's holdings in the Southeastern U.S.
Couche-Tard has agreed to pay $36.75 per share in cash to acquire its U.S. rival, representing a 27 percent premium on The Pantry’s closing price on Tuesday, the day prior to media speculation of the deal.
The Pantry, headquartered in Cary, North Carolina, is an independent convenience store chain that operates more than 1,500 convenience stores across 13 states under the Kangaroo Express name. Many of the stores include...
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