TORONTO, Aug 26 (Reuters) – Casey’s General Stores (CASY.O: Quote, Profile, Research, Stock Buzz)
concluded a $500 million recapitalization plan on Thursday that
was designed to thwart a $1.9 billion hostile takeover bid from
Canada’s Alimentation Couche-Tard (ATDb.TO: Quote, Profile, Research, Stock Buzz) for the U.S.
convenience store chain.
Casey’s, a U.S. Midwest chain that operates more than 1,500
stores, said it expected to buy about 13.2 million shares from
its own shareholders at $38 a share as a result of its modified
Dutch auction self-tender offer, which expired on Wednesday.
TORONTO, Aug 24 (Reuters) – Alimentation Couche-Tard Inc
(ATDb.TO: Quote, Profile, Research, Stock Buzz), Canada’s largest convenience store chain, posted a
42.2 percent rise in quarterly profit on Tuesday and said it is
acquiring 10 stores from U.S.-based Compac Food Stores Inc.
Couche-Tard stock, which was halted pending the news, rose
more than 10 percent once trading resumed.
TORONTO, Aug 23 (Reuters) – Casey’s General Stores
(CASY.O: Quote, Profile, Research, Stock Buzz), the target of a hostile takeover bid by Alimentation
Couche-Tard (ATDb.TO: Quote, Profile, Research, Stock Buzz), appealed to shareholders on Monday to
re-elect its existing directors and stop Couche-Tard’s attempt
to gain influence over the board.
With exactly a month left before its annual meeting on
Sept. 23, Casey’s sent a letter to investors outlining how the
policies of its current board would deliver more value than
Couche-Tard’s “illusory” $1.9 billion, or $36.75 a share,
takeover offer for the U.S. convenience-store chain.
TORONTO (Reuters) – Buffalo Wild Wings (BWLD.O: Quote, Profile, Research, Stock Buzz), a U.S. sports bar-and-grill chain, outlined ambitious plans to enter the Canadian market earlier this month, saying it has found a “perfect fit” in a country where people like to eat, drink and watch hockey.
But it’s not only American sports bars that feel they will find a warm welcome north of the border. A maturing U.S. market and a stronger Canadian economy make the country a logical growth opportunity for U.S. restaurant chains in general.
TORONTO (Reuters) – Scientists on Wednesday were set to launch an effort to “virtually raise” the doomed ocean liner Titanic by using 3D video to map the entire wreckage site for the first time.
Using cutting-edge robots, acoustic imaging, sonar technologies and high resolution video and 3D imaging, a team of experts will reconstruct a comprehensive and detailed picture of the remains of the ship and its wreckage site on the floor of the North Atlantic, much of it never seen before.
TORONTO (Reuters) – Scientists were set to launch on Wednesday what they called an effort to “virtually raise” the Titanic by using 3D techniques to map the entire wreckage site of the sunken transatlantic liner for the first time.
Using cutting-edge robots, acoustic imaging, sonar technologies and high resolution optical, video and 3D imaging, a team of experts from various organizations will reconstruct a comprehensive and detailed picture of the remains of the ship and of the wreckage site on the floor of the North Atlantic, much of it never seen before.
TORONTO, Aug 16 (Reuters) – Bisphenol A, a widely used
chemical that Canada is banning from baby bottles, is present
in the bodies of 91 percent of Canadians, according to a report
that shows just how prevalent the controversial chemical is in
Statistics Canada said Monday’s report was the first time
it has measured the extent that the industrial chemical, known
as BPA, has been absorbed by people exposed to it.
TORONTO, Aug 12 (Reuters) – Canadian Tire Corp Ltd
(CTC.TO: Quote, Profile, Research, Stock Buzz), one of the country’s biggest retailers, posted a
nearly 16 percent rise in quarterly profit on Thursday, helped
by a recovery in its financial services division.
But shares dropped more than 2.5 percent after the
Toronto-based company posted sales at its flagship retail chain
that at least one analyst said were disappointing.
TORONTO, Aug 12 (Reuters) – Tim Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz),
Canada’s largest restaurant chain, posted a 21 percent rise in
net income on Thursday and said it is selling its 50 percent
interest in Maidstone Bakeries to its European joint venture
partner Aryzta AG (ARYN.S: Quote, Profile, Research, Stock Buzz). [nLDE67B17Z]
Tim Hortons’ shares jumped more than 7 percent to C$37.92
on the Toronto Stock Exchange by midday Thursday, following the
TORONTO, Aug 11 (Reuters) – Rona Inc (RON.TO: Quote, Profile, Research, Stock Buzz), Canada’s
biggest home improvement chain, said on Wednesday its quarterly
earnings rose nearly 12 percent but the results failed to
impress the market and its shares dropped as much as 7 percent
to near one-year lows.
Rona, which operates a network of about 700 stores, said a
still-buoyant housing market supported sales in the early part
of the second quarter but that sales tapered off as consumer
confidence flagged, the housing market cooled, and unfavorable
weather hit several regions of the country.