Alimentation Couch-Tard (TSX: ATD.A, ATD.B) is making a recommended cash offer to acquire 100% of the shares in Statoil Fuel & Retail (OSE: SFR). Couch-Tard bids 53 NOK per share, valuing the Scandinavian convenience and fuel retailer at 15.9 billion NOK. The offer represents a premium of 52.5% on yesterday’s closing price.
Majority owner Statoil (OSE: STL, NYSE: STO) has accepted the offer. All the members of the Board of Directors also intend to accept the offer. The Offer period is expected to start soon. Couch-Tard is a major convenience store operator and many of its stores ore integrated with a petroleum company.
No comments:
Post a Comment