Casey’s denies Couche-Tard at shareholders meeting

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A bid to overthrow the board of directors of Casey’s General Stores Inc. failed today when shareholders attending the company’s annual shareholders meeting re-elected the entire slate, including president and CEO Robert Myers. Alimentation Couche-Tard Inc. offered its own candidates, apparently people who would be sympathetic to the Canadian company’s hostile takeover of Ankeny-based Casey’s for $38.50 a share. “We appreciate the confidence that Casey’s shareholders have placed in all of us, and we look forward to continuing to serve on their behalf,” Myers said in a prepared statement. Casey’s said the Couche-Tard slate drew less than 10 percent of the shares voted. Couche-Tard has been stymied in its attempts to buy Casey’s, first being rejected by Casey’s board and apparently failing to find a foothold with shareholders while increasing its bid to $38.50 a share from an initial offer in April of $36 a share. In recent weeks, Casey’s said it had entered negotiations with convenience store giant 7-Eleven Inc. for a “consensual transaction” triggered by an offer of $40 a share. Casey’s has said the offer undervalues the company.