REFILE-UPDATE 1-Couche-Tard shares rally as Statoil deal closes
(Fixes spelling of Couche-Tard in headline and paragraphs 2 and 6)
* Couche-Tard hits 91 pct acceptance from Statoil shareholders
* Deal was set to close on Wednesday
* Couche-Tard shares rise 5 percent
By Claire Sibonney
TORONTO, June 20 (Reuters) - Canada's Alimentation Couche-Tard Inc said on Wednesday it has reached the 90 percent level of shareholder acceptance in its takeover bid for Norway's Statoil Fuel and Retail ASA, which allows it to force holdout shareholders to sell their stock.
Shares of Couche-Tard, which operates convenience store chains in Canada and the United States, were up nearly 5 percent at C$45.00 on the Toronto Stock Exchange on Wednesday morning, following positive feedback from analysts.
Couche-Tard said it has received 90.92 percent shareholder acceptance in its bid of 51.2 Norwegian crowns ($8.68) per share for the Scandinavian gas station chain operator, which it launched in April to gain a foothold in one of Europe's top performing economies.
"We believe this is a positive development for Couche-Tard as the acquisition of Statoil can now conclude with Couche-Tard acquiring all of the shares," BMO Capital Markets analyst Peter Sklar said in a research note. He noted Couche-Tard's final acceptance period expired at 11:30 a.m. (1530 GMT) on Wednesday. Continued...