7-Eleven Bids $40-Share for Casey’s, Above Couche-Tard, WSJ Says
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7-Eleven Inc. has offered to acquire Casey’s General Stores Inc. for $40 a share, or $2.03 billion, the Wall Street Journal reported, citing unidentified people familiar with the transaction.
The bid exceeds the $38.50-per-share offer by Alimentation Couche-Tard Inc. Casey’s has rebuffed Couche-Tard since April, forcing the Canadian convenience-store chain to raise its offer twice. Casey’s said yesterday a third party had made a higher offer.