RECEIPT OF IMPROVED ACQUISITION PROPOSAL FROM ALIMENTATION COUCHE-TARD
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
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
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