Couche-Tard Extends Statoil Bid To June

Alimentation Couhce-Tard’s offer to acquire all of the shares of Statoil Fuel & Retail for NOK 51.20 per share in cash now expires in early June.

Alimentation Couche-Tard Inc. announced that its voluntary offer to acquire all of the issued shares of Norwegian-based Statoil Fuel & Retail has been extended and will expire at 5:30 p.m. on June 8.

“We are grateful to those Statoil Fuel & Retail shareholders who have accepted our offer to date and we are today extending our offer for a further 10 days to allow the remaining shareholders the opportunity to do so,” said Alain Bouchard, CEO of Couche-Tard. “This extension is crucial for the completion of this transaction, and we outline the fact that we are getting near the end of this process.”

Bouchard said it’s still uncertain as to whether Couche-Tard’s 53% premium offer represents full value for its shares. He said at this point, his company is open to almostt all options, including letting its offer expire.   

Alimentation Couche-Tard is the largest independent convenience store opeartor in North America, and has a network of 5,817 stores.

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