Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Canada's Alimentation Couche-Tard to buy CST Brands in $4.4 billion deal

Published 08/22/2016, 07:23 AM
Updated 08/22/2016, 07:30 AM
© Reuters. Pedestrians walk past a Couche-Tard convenience store in Montreal

(Reuters) - Canadian convenience store operator Alimentation Couche-Tard Inc (TO:ATDb) said on Monday it agreed to buy U.S. convenience store retailer CST Brands Inc (N:CST) in a deal valued at about $4.4 billion, including debt.

Couche-Tard is offering CST Brands shareholders $48.53 per share in cash, representing a premium of 2.15 percent to the stock's Friday close.

The offer represents a premium of 41.9 percent to CST's closing price on March 3, the last trading day before the company said it would explore strategic alternatives.

Couche-Tard also agreed to sell some Canadian assets of CST for about $750 million, after the deal closes.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.