Caltex Australia Limited (ASX: CTX) has obtained an amended, conditional, non-binding & indicative offer from Alimentation Couche-Tard Inc (ATD) for the acquisition of all the shares in Caltex by means of a scheme of arrangement at $35.25 every share.
ATD has revised the proposal following provision of selected non-public information by Caltex to ATD which depends on various conditions like
- Completing due diligence
- Agreeing to the terms of a scheme implementation agreement.
- No material asset acquisitions or divestment
- Capital raising
- Capital management initiatives or similar transactions
- Unanimous recommendation by the Caltex Board and approval of the ATD Board