Circle K owner to nominate slate to Casey's board
New York City The owner of Circle K convenience stores said it will nominate a slate of nine directors to the board of Casey's General Stores, which it is trying to acquire in a hostile bid.
Canadian convenience-store operator Alimentation Couche-Tard is nominating the directors as part of its takeover bid. Last week, Couche-Tard said it would take its $36 per-share cash offer, which Casey's said was too low, directly to shareholders in a tender offer scheduled to expire July 9.
Casey's said it was reviewing the offer.
Couche-Tard is headquartered in Canada but has more than 3,500 stores across the United States under such names as Circle K.
Casey's operates about 1,500 stores.