Canada's Alimentation Couche-Tard to buy CST Brands in $4.4 billion deal
Reuters
Published Aug 22, 2016 07:23AM ET
Canada's Alimentation Couche-Tard to buy CST Brands in $4.4 billion deal
(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.
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Written By: Reuters
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