Company News

BUZZ-Caltex Australia shares hold firm above Couche-Tard offer, set for best week in nearly 10 years

** Caltex Australia set for best week in at least a decade, as shares comfortably climb past Alimentation Couche-Tard Inc’s indicative offer price of A$34.5

** Caltex jumps ~25% so far this week, and up as much as 1.9% on Friday to A$35.16

** The Canadian convenience store operator says its willing to engage with Caltex after sweetening its approach with an A$8.61 bln ($5.84 bln) offer

** Couche-Tard says it’s committed to buying all of Caltex, potentially hampering CTX plans to potentially list some convenience retail sites

** Some analysts say Caltex, formerly half-owned by Chevron Corp, can expect a higher offer

** Shares touch 21-month highs and trade above their 30-day average volumes

($1 = 1.4736 Australian dollars)

Reporting by Nikhil Kurian Nainan in Bengaluru