(Ankeny)– Shareholders of Iowa-based Casey’s General Stores have voted in favor of the company’s board nominees–rejecting a slate of nominees from a canadian suitor.
Alimentation Couche-Tard Inc., which runs the Circle K chain in the U.S., encouraged shareholders to elect atleast three of its nominees in an effort to further its take-over bid.
Casey’s shareholders re-elected all eight of Casey’s incumbent directors.
Couche-Tard has been engaged in a hostile takeover effort for Casey’s since April. The company last offered $2 billion, or $38.50 per share, which Casey’s rejected as too low. Casey’s is continuing talks with competitor 7-Eleven.
(Story from the Associated Press.).
