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Alimentation Couche-Tard (ANCUF.PK) says it's willing to consider raising its $2B bid for...

Alimentation Couche-Tard (ANCUF.PK) says it's willing to consider raising its $2B bid for Casey's General Stores (CASY), which has received a $2.03B counteroffer from 7-Eleven. Couche-Tard is asking Casey's to delay its Sept. 23 AGM by 2-3 weeks.
Comments (1)
  • Casey's is worth much more than $2.03 billion to both 7-eleven and Couche-Tard.

     

    Casey's brings to the table $824M in stockholder's equity and is earning over $100M per year. With the economies of scale and increased leverage with suppliers that the 1500 stores would bring, plus the preventative measure it would put against competitors, it is a bargain. I see another 40% value in the company and a final bid offer of around 2.8B or so. I would be buying Casey's to see if I could make a quick buck.
    12 Sep 2010, 10:05 AM Reply Like
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