Gabelli Downgrades CST Brands (CST) to Hold

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Go back to Gabelli Downgrades CST Brands (CST) to Hold

Owner of CrossAmerica Partners LP’s General Partner, CST Brands, Inc., Enters into Merger Agreement with Alimentation Couche-Tard Inc.

August 22, 2016 7:00 AM EDT

ALLENTOWN, Pa.--(BUSINESS WIRE)-- CrossAmerica Partners LP (NYSE: CAPL) ("CrossAmerica" or the "Partnership"), a leading wholesale fuels distributor, today announced that its General Partner, CST Brands, Inc. (NYSE: CST) has entered into a definitive merger agreement with Alimentation Couche-Tard Inc. (TSX: ATD.A ATD.B) (Couche-Tard). Under the terms of the agreement, Couche-Tard will, through its acquisition of CST, acquire CSTs interest in CrossAmerica and associated Incentive Distribution Rights (IDRs). The transaction has been unanimously approved by the Board of Directors of CST and Couche-Tard and... More