NEW YORK (Reuters) - Casey's General Stores Inc confirmed it was in buyout talks with convenience store operator 7-Eleven, which offered the company $40 per share in cash earlier this month.
The $2.03 billion offer topped a $38.50-a-share offered by Canada's largest convenience store chain, Alimentation Couche-Tard Inc
Casey's said its board "firmly believes that Casey's value substantially exceeds $40 per share" but has authorized discussions with 7-Eleven. Goldman Sachs & Co is its financial advisor, while Cravath, Swaine & Moore LLP and Ahlers & Cooney PC are providing legal advice, the company said.
(Reporting by Ritsuko Ando;editing by Sofina Mirza-Reid)
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