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Couche-Tarde Agrees to Pick up CST for $4.4B

As rumored, Canadian gas station giant Alimentation Couche-Tard Inc. said Monday it agreed to buy CST Brands (CST) for $4.4 billion including debt.

The deal is for $48.53 per share, or $3.7 billion, a 42% premium over CST's closing price on March 3 before the company announced it was exploring strategic alternatives to enhance stockholder value.

Couche-Tarde CEO and president Brian Hannasch said in a statement that the transaction will strengthen the company in the Sunbelt and the East Coast.

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