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Is CST Brands Too Big a Bite for Circle K Owner?

Alimentation Couche-Tard, the Canadian convenience store operator best known in the U.S. for its Circle K branded gas station and store locations, is reportedly emerging as the top bidder for CST Brands (CST) . The target has been on the block since March when it said it hired Bank of America Merrill Lynch and JP Morgan Chase to launch a strategic review.

The Wall Street Journal reported late Monday that Couche-Tard is nearing a deal for San Antonio-based CST, and that the parties could announce a transaction as early...