Casey's General (CASY) Terminates Acquisition Talks with 7-Eleven After Rejecting $43/Share Bid

November 3, 2010 9:03 AM EDT
Shares of Casey's General Stores, Inc. (NASDAQ: CASY) are seeing pressure this morning after announcing that takeover talks with 7-Eleven were terminated after the company's Board viewed a revised $43 per share bid from 7-Eleven as insufficient.

Shares of Casey’s General Stores last traded at $38.98, down 6 percent from yesterday's close.

In addition to takeover interest from 7-Eleven, Casey's General has overtures from Couche-Tard. Couche-Tard recently let its $38.50 tender offer expire and failed to gain any seats on the company's Board of Directors.

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