Casey’s General Stores, Inc. CASY today issued the following statement regarding the extension by Alimentation Couche-Tard Inc. of its non-binding, unsolicited $36.75 per share tender offer and Couche-Tard’s statement that only 546,435 shares of Casey’s common stock, which represent approximately 1.1% of Casey’s issued and outstanding shares have tendered into the offer:
“Given that Casey’s is already creating more value than is reflected in the Couche-Tard offer and will deliver significant additional upside through execution of our business plan and strategic growth initiatives, we are not surprised that so few shares have tendered into Couche-Tard's inadequate, highly conditional $36.75 per share offer.”
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