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The Des Moines Register reports that Canada’s Alimentation Couche-Tard is criticizing c-store chain Casey’s General Stores “for a financing deal that the company said was intended largely to make Casey's more expensive to buy.

“The statement, a response to Casey's announcement that it had found financing for a $500 million buyback of its stock, said the deal includes a ‘poison put’ feature that would require Casey's to pay noteholders about $95 million in penalties if any party acquires 35 percent or more of the shares. According to Couche-Tard, ‘the financing makes it almost $2 per share more expensive to acquire Casey's - that is $2 that would have gone to the shareholders but instead is designated for noteholders in the event of any such acquisition.”
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