Quebec public health officials warn of possible measles exposure at Montreal airport
Public health authorities in Quebec have declared another case of measles in Montreal. The case was flagged to Montreal's public health department on Monday.READ MORE: Health authorities declare 8th case of measles in MontrealThe person boarded a domestic flight on Sept. 20 and visited several public places in the days that followed, according to authorities.Health officials said people who were at the following places at these times may have been exposed to measles:Air Canada flight 8903 from Moncton to Montreal and the domestic arrival zone at the Montreal Trudeau Airport between 12:05 p.m. and 1:35 p.m.
Couche - Tard seeks biggest deal in its history with C $ 7 . 7 B bid for Australian firm https://www.cp24.com/news/ couche - tard - seeks - biggest - deal - in - history - with - c - 7 - 7 b - bid - for - australian - firm -1.4703489 … pic.twitter.com/iccjrTIo3F.
Alimentation Couche - Tard Inc. is proposing the largest acquisition in the company’s history with a $ 7 . 7 billion bid for Australia ’s Couche - Tard CEO Brian Hannasch described the proposal as “a very compelling offer” for Caltex shareholders. “Alimentation Couche - Tard ’s management team has been
Alimentation Couche-Tard Inc. is proposing the largest acquisition in the company's history with a $7.7 billion bid for Australia's largest retail fuel and convenience chain.
The unsolicited purchase offer for Sydney-based Caltex Australia Ltd. — its second this year — would allow the Quebec-based retailer to expand beyond North America and Europe as it aims to double the company's size.
Couche-Tard CEO Brian Hannasch described the proposal as "a very compelling offer" for Caltex shareholders.
"Alimentation Couche-Tard's management team has been looking into the Asia-Pacific region for several years as a potential market for our continued growth and we see many opportunities," he said in a news release.
Parti Quebecois mulls name change after 2018 defeat, but few seem eager
Parti Quebecois mulls name change after 2018 defeat, but few seem eagerParty president Dieudonne Ella Oyono has indicated that a name change is on the table as the party mulls its next steps in the coming months.
LAVAL, Que. — Australian company Caltex says it has received an unsolicited purchase offer from Alimentation Couche - Tard valued at C $ 7 . 7 billion.If the offer is accepted, the Laval, Que.-based Couche - Tard would make a first breakthrough in the Australian market.The proposal for AU.50
Treasuries were little changed.Benchmarks in Japan, Australia and South Korea headed higher. Couche - Tard seeks biggest deal in history with C $ 7 . 7 B bid for Australian firm . The Canadian Press.
"With Caltex, we see a potential opportunity to leverage our leading global position in the convenience retail market, and we would seek to bring all our operating expertise to bear to help support and grow the Caltex business."
The proposal for AU$34.50 per share is for the redemption of all Caltex shares outstanding. Couche-Tard already owns about two per cent of Caltex shares.
This is an unsolicited, non-binding, conditional and confidential offer, Caltex said in a statement released Tuesday morning local time.
The proposal also includes the payment of certain dividends to shareholders at the time of the eventual takeover.
Caltex says Couche-Tard's previous offer in October at AU$32 per share was rejected for being value too low.
Parti Quebecois mulls name change after 2018 defeat, but few seem eager
TROIS RIVIERES, Que. — The Parti Quebecois has reopened the debate over changing its name, but few of its members seem ready to take such a drastic step as the party seeks to recover from a 2018 election defeat. Party president Dieudonne Ella Oyono has indicated that a name change is on the table as the party mulls its next steps in the coming months. The party is meeting in Trois-Rivieres over the weekend as it seeks to rebuild after aParty president Dieudonne Ella Oyono has indicated that a name change is on the table as the party mulls its next steps in the coming months.
Couche - Tard seeks biggest deal in history with C $ 7 . 7 B bid for Australian firm . Two reasons why a US-China trade deal is taking so long: Mohamed El-Erian. Yahoo Finance. If You Run A Business From Home, This Is Why You'll Need Business Insurance.
Yahoo Finance Canada. Couche - Tard seeks biggest deal in history with C $ 7 . 7 B bid for Australian firm . The Canadian Press. Yahoo Finance Canada. Two reasons why a US-China trade deal is taking so long: Mohamed El-Erian.
The proposal includes no material asset sales or divestments and precludes Caltex's planned property public offering.
Keith Howlett of Desjardins Capital Markets says the offer has likely come to light because Caltex recently announced that it was planning to spin off a 49 per cent interest in 250 retail sites into a REIT. In addition, Caltex shares have performed poorly and the current CEO has announced his plan to retire.
"Given the complexity of the transaction, including the divestiture of non-retail assets, we conclude that Couche-Tard management foresees significant upside to the retail fuel and convenience business in Australia," he said in a report.
The potential acquisition would be consistent with Couche-Tard's five-year plan to double its size, added Irene Nattel of RBC Capital Markets.
"Based on conversations with management, Australian c-store networks are compelling due to a well-developed fuels industry, while generally undermanaged inside store operations provide meaningful opportunity to surface incremental value," she wrote in a report.
Poppy-stealing pigeon offers poignant reminder of war anniversary
Poppy-stealing pigeon offers poignant reminder of war anniversaryThe pigeon has created the nest with the red flowers under the soft light of a stained glass window at The Australian War Memorial, the West Australian newspaper reported.
Couche - Tard seeks biggest deal in history with C $ 7 . 7 B bid for Australian firm . The Canadian Press. Elon Musk says sledgehammering Cybertruck led to the CN strike ends as tentative deal reached with union. Yahoo Finance Canada. A Vegan Sued Burger King Over Its ‘Impossible Whopper.’
Alimentation Couche - Tard Inc. (English translation "Late-Night Feeding") or simply Couche - Tard (In English, "Night Owls") is a Canadian multinational operator of convenience stores.
Caltex operates approximately 2,000 service stations where it operates gasoline and retail sales.
The offer is subject to audit and approval, as well as a vote of the boards of directors of both companies involved.
Alimentation Couche-Tard said after markets closed on Tuesday that its net income surged by 21.5 per cent to US$579.4 million in its fiscal second quarter, up from US$477 million a year earlier.
Excluding one-time items, adjusted profits for the three months ended Oct. 13 were US$571 million or 51 cents per diluted share, compared with US$466 million or 41 cents per share in the prior year. The retailer benefited from a 27.7 per cent boost in U.S. fuel margins even though fuel revenues dipped nearly eight per cent.
Revenues decreased to US$13.68 billion from US$14.7 billion in the second quarter of 2018 with merchandise revenues increasing 2.3 per cent to US$3.5 billion and network fuel revenues decreasing 8.8 per cent to US$9.9 billion.
Merchandise same-store sales grew 3.2 per cent in the U.S., 2.1 per cent in Canada and 3.3 per cent in Europe.
Couche-Tard was expected to earn 48 cents per share in adjusted profits on US$14 million of revenues, according to financial markets data firm Refinitiv.
"We continue to experience steady results in our overall business with strong fuel performance and merchandise sales," Hannasch stated in a news release.
"In the convenience sector, we are starting to see good traction from the different projects we launched, such as food pilots, our digital upsell platform, and the redesign of our European stores.
Couche-Tard's convenience store network includes nearly 9,800 stores throughout North America and 2,700 in Europe. It employs almost 133,000 people and has licensing agreements for about 2,250 stores operated under the Circle K banner in 16 other countries and territories.
This report by The Canadian Press was first published Nov. 26, 2019.
Companies in this story: (TSX:ATD.B)
Ross Marowits, The Canadian Press
Wozniacki withdraws from Kooyong ahead of Australian. Open .
Former world No.1 Caroline Wozniacki will have no further preparation before her final career appearance at the Australian Open after withdrawing Monday from the traditional warm-up tournament at Kooyong. The 29-year-old Dane has announced she will retire after the Australian Open, where in 2018 she won her only Grand Slam title. Now ranked 35th, Wozniacki was due to play in a select women's field at Kooyong but informed Australian organizers Monday that she was withdrawing. "She's pulled up a bit sore after playing (at the ASB Classic) in Auckland so as a precaution ahead of the Open she's decided not to play," tournament director Peter Johnston said.