Couche-Tard Bids 8B for Cumberland
Alimentation Couche-Tard proposed an acquisition offer of up to 8 billion dollars for convenience store operator Cumberland Farms. The target company previously delayed its planned United States initial public offering following takeover interest.
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ALIMENTATION COUCHE-TARD INC proposed a buyout offer of $7.5 billion to $8 billion for Cumberland Farms, according to a Saturday report by the United Kingdom newspaper The Times. The proposal from the Canada-based convenience store operator follows takeover interest from infrastructure investor Stonepeak. The transaction could reshape retail operations across the United States, where Cumberland Farms operates a vast retail network.
