Casey’s shareholders meeting won’t be postponed
Casey’s General Stores Inc. says its shareholders meeting will go on as scheduled Sept. 23. The Ankeny-based convenience store operator is being pursued by Alimentation Couche-Tard Inc. of Laval, Quebec, which has offered $38.50 a share in a hostile takeover. The Canadian company said late last week that Casey’s should postpone the shareholders meeting, where Couche-Tard plans to advance its own slate of candidates to sit on Casey’s executive board. Casey’s President and CEO Robert Myers said in a prepared statement Tuesday that the Couche-Tard offer “substantially undervalues Casey’s and is not in the best interest of Casey’s, its shareholders and its other constituencies.” Myers said the company is willing to enter negotiations for a “consensual transaction, provided that the starting point for such discussions is acceptable.” Casey’s is negotiating with 7-Eleven Inc., which has offered $40 a share. Casey’s board has said that offer does not reflect the company’s true value.