January 15, 2020 / 10:00 PM / a month ago

Caltex Australia inks confidentiality deal with Couche-Tard in hopes of higher offer

Jan 16 (Reuters) - Caltex Australia said on Thursday it entered a confidentiality agreement with Alimentation Couche-Tard to provide selected non-public information in the hopes that the Canadian firm will raise its takeover offer

The agreement comes at a time where interest for the Australian petrol pump and convenience store operator is building from a number of parties, including UK-based EG Group.

Caltex had earlier rejected a A$8.6 billion ($5.94 billion) offer in November from Couche-Tard at A$34.50 per share, saying the offer undervalued the company. ($1 = 1.4484 Australian dollars) (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Amy Caren Daniel)

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