acquisition

Breaking News: Carroll Independent Fuel Co. Acquires High’s of Baltimore

“The acquisition by Carroll will ensure the continuance of a well-recognized brand and the accelerated growth of the High’s name within our market area,” says High’s spokesperson.   High’s of Baltimore Inc. has divested its High’s Dairy Stores to The Carroll Independent Fuel Co. Hanover, Md.-based High’s directly operates 46 retail convenience stores and gas

HESS

Hess Corp. Announces Capital and Exploratory Budget for 2012

“We are committed to creating value and delivering sustainable growth in production and reserves from both our unconventional and conventional portfolios,” says Hess spokesperson. Hess Corp. has announced a 2012 capital and exploratory budget of $6.8 billion, nearly all of which is targeted for Exploration and Production: $2.5 billion for unconventionals, $1.6 billion for production,

Casey’s Mystery Bidder Revealed

7-Eleven is  the previously unnamed third party bidder that has offered to buy Casey’s General Stores for $2.03 billion or $40 per share, the Wall Street Journal reported. 7-Eleven’s $40-a-share offer surpasses Alimentation Couche-Tard’s bid of $38.50 a share. Casey’s has rejected Couche-Tard’s advances since it placed its first hostile bid for the company back

Casey’s Reports Recapitalization Results

Casey’s General Stores Inc. has announced the preliminary results of its modified “Dutch auction” self tender offer, which expired on Aug. 25, 2010 at midnight New York City time, determining the recapitalization was a success. Based on the preliminary count, a total of approximately 28.2 million shares were validly tendered at the minimum purchase price

Casey’s Fires Back

With a month till the annual Casey’s shareholders’ meeting on Sept. 23, a war of words is underway, with Casey’s and Couch-Tard vying for shareholder votes and fighting to prove they have the most to offer shareholders. In response to Couche-Tard’s most recent letter of appeal to shareholders, asking them elect its slate of eight

Couche-Tard Responds To Private Placement

Alimentation Couche-Tard Inc. responded to Casey’s General Stores Inc. announcement that it has completed a private placement of $569 million principal amount of 5.22% Senior Notes due Aug. 9, 2020 to fund its leveraged recapitalization. “Casey’s recent action to transfer value from the Casey’s shareholders to noteholders is outrageous,” Couche-Tard said in a statement. “In

A Third Investor Sues Casey’s

Casey’s General Stores Inc. now faces three lawsuits from investors, who demand the chain stop its defensive tactics and negotiate the hostile bid by Alimentation Couche-Tard Inc, The National Post reported. The most recent suit, came last week-a class-action petition filed in Iowa, by the Kentucky State District Council of Carpenters Pension Trust Fund. It

Couche-Tard Versus Iowa

Alimentation Couche-Tard plans to challenges the constitutionality of several Iowa anti-takeover laws as part of the company’s hostile bid to purchase Casey’s General Stores, the Des Moines Register reported. Couche-Tard, which operates 5,883 convenience stores in the U.S. and Canada, filed court papers late last week alleging that three Iowa statutes contradict U.S. law, creating

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