Alimentation Couche-Tard's hunt for Casey's General Stores

How Alimentation Couche-Tard's bid for Casey's General Stores has progressed over the past five months.

— March 9: Alimentation Couche-Tard approaches Casey's with US$36 per share cash offer.

— April 9: Couche-Tard goes public with bid and earns US$10 million profit after selling nearly two million Casey's shares for US$38.43.

— June 8: Casey's board rejects offer for the second time.

— July 22: Couche-Tard increases offer to US$36.75.

— July 28: Casey's board rejects new offer, announces US$500 million recapitalization plan that will ultimately purchase 26 per cent of shares for US$38 per share.

— Sept. 1: Couche-Tard increases offer to US$38.50.

— Sept. 2: 7-Eleven approaches Casey's with preliminary US$40 cash offer.

— Sept. 7: Casey's board rejects Couche-Tard's revised offer and authorizes talks with 7-Eleven.

— Sept. 23: Casey's holds annual general meeting; elects new board.

— Sept. 30: Couche-Tard offer set to expire.

The deal is still in progress and is getting hotter with 7-Eleven jumping in. "Casey's with its strong franchise and thick carpet coverage of Midwest will be someone's prized possession. I see Couche-Tard and 7-Eleven fighting harder, and possibly third parties joining in. I think there are at least two or three other groups that could be a great fit with Casey's, The Pantry Corp. being one of them and their bankers must be sleeping if The Pantry is not in the game yet".said Armen Grigorian of Defoe Partners.