Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, December 18, 2014

Alimentation Couche-Tard to purchase Pantry in $1.7 billion deal, (NASDAQ: PTRY)

Canadian convenience store operator Alimentation Couche-Tard Inc will purchase U.S. convenience store chain The Pantry Inc for $1.7 billion, including debt. The transaction is expected to close in the first half of 2015, Pantry said.

The Pantry, Inc. (Pantry) is an independently operated convenience store chain in the southeastern United States. Shares of PTRY traded higher by 23.08% or $6.66/share to $35.52. In the past year, the shares have traded as low as $12.30 and as high as $36.71. On average, 239722 shares of PTRY exchange hands on a given day and today's volume is recorded at 2033026.