RECEIPT OF IMPROVED ACQUISITION PROPOSAL FROM ALIMENTATION COUCHE-TARD

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    Caltex Australia Limited (ASX:CTX) (Caltex) confirms that it has received a revised, conditional, nonbinding and indicative proposal from Alimentation Couche-Tard Inc. (TO:ATD) (ATD) to acquire all of
    the shares in Caltex by way of a scheme of arrangement at an indicative cash price of A$35.25 cash per
    share less any dividends declared or paid by Caltex (Revised Proposal). The Revised Proposal permits
    Caltex to pay a special dividend to shareholders.
    ATD has made the Revised Proposal following provision of selected non-public information by Caltex to
    ATD.
    The Revised Proposal is subject to a number of conditions, including completing due diligence;
    agreeing the terms of a scheme implementation agreement; no material asset acquisitions or
    divestments, capital raisings, capital management initiatives or similar transactions; unanimous
    recommendation by the Caltex Board and approval of the ATD Board. Completion of any agreed
    transaction will be subject to Foreign Investment Review Board approval.
    ATD has indicated that its revised price is its best and final price in the absence of a competing
    proposal.
    Receipt of the Revised Proposal follows earlier approaches from ATD to acquire all of the shares in
    Caltex by way of a scheme of arrangement at indicative cash prices of A$32.00 and A$34.50 per share,
    which were rejected by the Caltex Board.
    The Caltex Board is currently considering the Revised Proposal, including obtaining advice from its
    financial and legal advisers.
    The Revised Proposal is subject to various conditions and there is no certainty that it will result in a
    change of control transaction.

    courtesy of Bell Direct
    ============================================================================================

    ( DYOR )

    i do not hold this share

    there are rumours a different take-over bid in the works

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