Caltex Australia (ASX:CTX) report Alimentation Couche-Tard take-over will not go-ahead

Company News

by Rachael Jones

Caltex Australia (ASX:CTX) and Alimentation Couche-Tard Inc. have decided to not proceed with the acquisition proposal due to the high level of economic uncertainty caused by the COVID-19 pandemic.

ATD intends to seek to re-engage once there is sufficient clarity as to the global outlook, although there is no certainty that they will ultimately do so.

Caltex Chairman Steven Gregg said, “We remain confident in the strength of Caltex as an independent business, and should we receive an approach in the future would be willing to consider it on its merits.”

Shares in Caltex Australia (ASX:CTX) are trading 8.5 per cent lower at $21.56.