The Wall Street Journal: Couche-Tard agrees to buy CST Brands for just under $4 billion

Alimentation Couche-Tard Inc. agreed to buy CST Brands Inc. for roughly $3.67 billion, a merger that would sharply consolidate the convenience store industry.

The transaction, at $48.53 a share in cash, represents a 42% premium to CST’s CST, +0.19% closing price on March 3, the last day prior to CST announcing it would explore strategic alternatives. It is a 2.1% premium to Friday’s closing price of $47.51.

Couche-Tard ATD.B, +0.00% said the deal is worth $4.4 billion including net debt assumed. The transaction, expected to close in early 2017, is subject to the regulatory approval and a CST shareholder vote.

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