ANKENY, IOWA (AP) -- A Canadian convenience store company says it has made a $1.9 billion unsolicited offer to purchase Ankeny-based Casey's General Stores Inc.
Quebec-based Alimentation Couche-Tard Inc. offered to purchase all Casey's shares for $36 each in cash. Couche-Tard chief executive officer Alain Bouchard says in a letter dated Friday that the company was making the offer public after the board of directors of Casey's rejected the offer.
Casey's General Stores operates roughly 1,500 convenience stores throughout the Midwest under its banner as well as HandiMart and Just Diesel names.
The Canadian company said in a news release that it believes its offer is compelling for Casey's shareholders and it is committed to pursuing the transaction.
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