Another Two Proxy Advisors to Casey Say Re-elect Majority of Firm’s Director Candidates

Casey's General Stores, which is facing a $2 billion takeover tender from Alimentation Couche-Tard from Canada said that two more proxy advisors have suggested that re-election of a good number of firm’s Director applicants be done by Casey’s investors.

Egan-Jones, the U.S. convenience store operator suggested that investors of Casey take in seven of eight nominees for the post of Director, whereas Proxy Governance suggested that investors take in all the candidates.

ISS and Glass Lewis too made similar suggestions on Thursday.

Previously in the week, Casey stated that it may settle on talking with Couche-Tard, given the firm from Canada raised its $38.50-a-share bid.

Also, it is in discussions with 7-Eleven, which is a Japan-based convenience store operator that has in offer given $40 a share in cash for the U.S. firm.

Shares of Casey that have gained almost 44%, ever since an initial approach was made by Couche-Tard in the month of April, closed at $43.30 Thursday on NASDAQ.

Ever since bids for Casey were made by Couche-Tard, its shares reached up by 29% and reached C$22.91 Thursday in Toronto.

President and Chief Executive of Casey, Robert J. Myers said that four proxy advisors have shown support to all the nominees to be considered.