Couche-Tard Board Bid Rejected

ANKENY, Iowa — In an update of a report from yesterday, Sept. 23, shareholders for U.S. corner-store stalwart Casey’s have overwhelmingly rejected the board nominees supported by Canadian convenience store giant Alimentation Couche-Tard.

The rejection of nominees by Casey’s shareholders has been seen by observers as a strong dismissal of Couche-Tard’s $2-billion, $38.50 per share hostile takeover bid.

So far, there has been no indication that Couche-Tard intends to sweeten the offer, even after reports surfaced recently that 7-Eleven is also interested in purchasing the company, with an offer of $40 per share.