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Casey’s General Stores Submits Bid for Kroger Convenience Stores

The deal could fend off investors’ pressure to sell

Published

6 years ago

January 29, 2018

kmpeyton

This past Friday, Jan. 26, 2018, the Ankeny, Iowa-based Casey’s General Stores submitted a bid for $2 billion to purchase The Kroger Co.’s (Cincinnati) convenience stores.

The bid comes after investors in Casey’s, including JCP Investment Management (Houston), BLR Partners (Thalwil, Switzerland) and Joshua Shechter, asked the company to explore “strategic alternatives,” according to Reuters, including a potential sale, due to its undervalued stock.

Kroger announced this past October that it was looking to sell its almost 800 convenience stores, including its brands Tom Thumb, KwikShop and others. Final offers are due by early February.

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