(Undated)– Casey’s General Stores says it is in talks with 7-Eleven after receiving an unsolicited buyout offer from the convenience store operator.
Casey’s said Thursday that 7-Eleven made the offer last week to buy the company that operates a chain of convenience stores in the midwest for $40 a share in cash.
Casey’s says it’s board of directors believes the company is worth substantially more than what Dallas-based 7-Eleven Incorporated is offering, but opted to continue talks.
Casey’s recently rejected a buyout offer worth $2.03 billion from canadian convenience store operator Alimentation Couche-Tard as too low, but agreed to further talks with the company.
Casey’s is based in Ankeny and has a number of stores in the lakes area.
(Story from the Associated Press.)
