Caltex Australia receives unsolicited takeover bid for $8.6 billion

Canadian convenience giant Couche-Tard has made an $8.6 billion takeover offer for struggling Australian petrol retailer Caltex.

Canadian firm Couche-Tard has Caltex in its sights with a $34.50 cash buyout proposal. Credit:Nine

Caltex confirmed in a ASX announcement on Tuesday it had received an “unsolicited, conditional, confidential, non-binding and indicative proposal” from the Laval-based firm which operates 5,000 stores across Canada, the United States, Europe, Mexico, Japan, China, and Indonesia.

Couche-Tard’s offer would see it acquire all of Caltex’s shares by way of a scheme of arrangement at an indicative cash price of $34.50 cash per share less any dividends declared by Caltex.

Shares in Caltex were trading at $29.79 on close Monday.


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