The Canadian company that’s trying to take over the Ankeny-based Casey’s convenience store chain has extended its offer. Alimentation Couche Tard’s offer of $36.75 cents a share for Casey’s stock has been extended three weeks until August 30th. The company originally offered $36 a share.
The Casey’s board advised shareholders not to sell to the Canadian company and issued a statement saying only 12% of the Casey’s shares have been tendered in the latest offer. Casey’s says that is a decline from the 19% of the shares offered in Couch Tard’s first attempt to buy shares, despite the hike in the price offered.
The Casey’s statement says the decline in the number of shares being offered “clearly demonstrates” Casey’s shareholders do not support Couch Tard’s offer.