BUZZ-The Pantry Inc: To be bought by Alimentation Couche-Tard

Thu Dec 18, 2014 12:20pm EST
 
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** Convenience-store chain operator's shares up 2.8 pct at $36.53, adding to 27.2 pct rise on Wednesday

** To be bought by larger Canadian rival Alimentation Couche-Tard Inc for $861 mln

** Deal valued at $1.7 bln, including debt

** Couche-Tard's $36.75 per share offer represents premium of 3.5 percent to Pantry's Wednesday's close of $35.52

** More than 3 mln shares changed hands by 12.10 p.m. ET, about 6 times their 10-day moving average

** Up to Wednesday's close, stock has more than doubled this year