Circle K Parent Buys CST Brands
Couche-Tard, the Quebec-based parent of the global Circle K brand, announced on Aug. 21 it would acquire CST Brands for approximately $4.4 billion, pending shareholder approval and government regulatory approval in Canada and the United States.
Under the terms of the merger agreement, CST stockholders will receive $48.53 in cash per share, without interest, as a result of the closing of the transaction. The deal remains subject to customary closing conditions.
CST stockholders also approved the compensation that may be paid or become payable to CST’s named executive officers in connection with the merger on an advisory/non-binding basis.