Couche-Tard Still Pursuing Casey's Despite 'Poison Pill'

ANKENY, Iowa — Alimentation Couche-Tard said Monday that it still plans to acquire Casey's General Stores, despite the latter enacting a so-called "poison pill" that would flood the market with cheap shares if a buyer gained a significant stake on the open market.

Casey's, based here, told federal regulators about the amended shareholder rights plan Friday. Under the plan, a buyer acquiring 15% of Casey's stock would trigger a release of half-price shares to be made available to all shareholders except the acquiring company. A spokesperson for Montreal-based Couche-Tard said however that the firm still has plans to acquire Casey's, adding "A meeting would be more productive than putting barriers, like a poison pill, in our way," according to a report in the Toronto Sun newspaper.

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