BUZZ-CST Brands Inc: Couche-Tard in lead to acquire Co-report

Tue Aug 16, 2016 2:07pm EDT
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** Canadian convenience store operator Alimentation Couche-Tard is in the lead to acquire U.S. convenience store retailer CST Brands, Reuters reports

** CST shares jump 8.9 pct to record high of $48.27 in above-avg volume; 1.7 mln shares traded, highest since early June

** Couche-Tard up 2.6 pct, set for best day in 5-day winning streak

** Reuters reported on June 2 that Couche-Tard and Japan's Seven & I Holdings Co Ltd submitted indicative offers to buy CST

** CST had market value of $3.35 bln as of Monday close

** Analysts' median PT is $43; Stock's intrinsic value is $30.37 vs last close of $44.32, according to StarMine

** Since Reuters' June report, CST is up 24 pct and Couche-Tard is up 8.8 pct, including Tuesday's gains