The Pantry, Inc. (PTRY) Place on CreditWatch Positive by S&P

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Couche-Tard to Acquire The Pantry, Inc. (PTRY) in $1.7B Deal

December 18, 2014 7:04 AM EST

Alimentation Couche-Tard Inc. and The Pantry, Inc. (Nasdaq: PTRY), announced a definitive merger agreement under which Couche-Tard will acquire The Pantry in an all-cash transaction valued at US $36.75 per share, with a total enterprise value of approximately US $1.7 billion including debt assumed. The terms of the agreement were unanimously approved by the Boards of Directors of both companies.

The transaction price represents a premium of 27% to The Pantry's closing share price on December 16, 2014, the last trading day prior to public media reports that The Pantry, Inc. was exploring a potential transaction,... More