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  • Mon, Aug. 22, 7:09 AM
    • CST Brands, Inc. (NYSE:CST) announces it accepted a buyout offer from Alimentation Couche-Tard Inc. (OTCPK:ANCUF) at $48.53 per share.
    • The deal represents a total enterprise value of approximately $4.4B, including the assumption of debt.
    • “After the Board’s comprehensive review of strategic alternatives to enhance stockholder value, we are pleased to reach this agreement with Couche-Tard, which we expect to provide immediate and compelling value to our stockholders,” said CST CEO Kim Lubel.
    • After the deal closes, Circle K will establish a new business unit in San Antonio.
    • Couche-Tard expects to finance the transaction with available cash, its existing credit facilities, and a new term loan.
    • The transaction is currently expected in the early part of 2017, subject to the approval of CST's stockholders and regulatory approvals in the U.S. and Canada.
    • Source: Press Release
    | Mon, Aug. 22, 7:09 AM | 4 Comments
  • Tue, Aug. 16, 3:48 PM
    • Alimentation Couche-Tard (OTCPK:ANCUF) confirms it's in talks with a third party over an acquisition.
    • The development follows very closely on yesterday's Wall Street Journal report indicating that the company has serious interest in CST Brands (CST +6.7%).
    • Buzz over a deal helped push CST to an all-time high of $48.31.
    • Previously: WSJ: Couche-Tard near deal to buy CST Brands (Aug. 15)
    | Tue, Aug. 16, 3:48 PM | 4 Comments
  • Mon, Aug. 15, 10:13 PM
    • Circle K owner Alimentation Couche-Tard (OTCPK:ANCUF) is nearing a deal to buy fuel and convenience store chain CST Brands (NYSE:CST), with an announcement possible as soon as this week, WSJ reports.
    • The price of the acquisition is not clear, but CST has a market value of ~$3.4B and is the second largest publicly traded fuel and convenience retailer in North America.
    • Earlier this year, CST said it had hired bankers to explore strategic options amid pressure from activist shareholders.
    | Mon, Aug. 15, 10:13 PM | 3 Comments
  • Tue, Jun. 7, 1:27 PM
    • CST Brands (CST +1.5%) is reviewing takeover offers, according to CTFN.
    • "Things are still in the round one phase, but the intent for a sale is definitely out there," said Sikich Investment Banking partner-in-charge Chris Geier.
    • Geier thinks CST will bite if a buyer comes in with a firm $50 bid.
    • The list of potential buyers includes Couche-Tard, 7-11, Marathon Petroleum/Speedway, OXXO Mexico, and ETP/Sunoco.
    • Shares of CST already factor in a takeover premium after rallying 18% over the last five sessions.
    | Tue, Jun. 7, 1:27 PM
  • Tue, Apr. 19, 3:21 PM
    • CST Brands (CST +0.5%) isn't actively seeking a buyer, according to CTFN.
    • Analysts think the company will show patience as it evaluates options, especially with activist investors watching closely.
    • Two companies identified as potential bidders down the road are Couche-Tard (OTCPK:ANCUF, OTC:ANCTF) and Sunoco.
    • Now read Couche-Tard Rolling In The Dough 
    | Tue, Apr. 19, 3:21 PM
  • Dec. 10, 2015, 6:16 PM
    • Marathon Petroleum's (NYSE:MPC) Speedway, Sunoco (NYSE:SUN) and Alimentation Couche-Tard (OTCPK:ANCUF) are among various groups interested in a potential acquisition of convenience store operator CST Brands (NYSE:CST), according to TheStreet.com.
    • The report comes a day after Engine Capital sent a letter to CST's board requesting action to improve the company's business operations or launch a review of strategic alternatives, including the exploration of a sale.
    | Dec. 10, 2015, 6:16 PM | 4 Comments
  • Nov. 25, 2015, 8:20 AM
    • CST Brands (NYSE:CST) announces it acquired the Flash Floods store chain from Jones Company and affiliates for $425M.
    • The deal will add 164 Flash Foods convenience stores in Florida and Georgia to CST's stable.
    • The transaction is expected to close in Q1 of 2016.
    | Nov. 25, 2015, 8:20 AM | 1 Comment
  • Dec. 10, 2014, 5:58 PM
    • CrossAmerica Partners (NYSE:CAPL) agrees to acquire Erickson Oil Products, operator of 64 convenience stores and gasoline stations located in Minnesota and some surrounding states, for $85M.
    • For the year ending Oct. 31, the stores sold ~68M gallons of motor fuel and totaled ~$95M in non-fuel revenue.
    • CAPL initially intends to operate the convenience stores within the partnership and expects to transfer the operation of certain sites over time to its CST Brands (NYSE:CST) parent.
    | Dec. 10, 2014, 5:58 PM
  • Aug. 6, 2014, 6:55 PM
    • CST Brands (NYSE:CST) agrees to acquire the membership interests of Lehigh Gas GP, the general partner of Lehigh Gas Partners (NYSE:LGP), for cash and stock valued at ~$85M.
    • CST, a retailer of motor fuels and convenience merchandise, expects the deal will provide access to capital through a growth-oriented MLP vehicle to execute its long-term strategic plan.
    • The deal does not involve any of the common or subordinated units of LGP, which will continue to operate as a separate, publicly-traded MLP.
    • Also, CST's board authorizes the repurchase of $200M of company shares.
    • CST +14.8%, LGP +11.6% AH.
    | Aug. 6, 2014, 6:55 PM