It’s a good thing CST Brands only needs one buyer


  • Business Premium
  • Saturday, 16 Apr 2016

Unlikely suitor: Seven & i Holdings has been tossed around by analysts as a potential acquirer, but that looks unlikely considering its chairman and CEO has said he’d step down this week. – Reuters

NEW YORK: Three years. That’s how long fuel and convenience-store operator CST Brands will have lasted as an independent company, assuming the review of strategic alternatives it started last month culminates in a sale. But to the chagrin of activist investors who are angling for a deal, the universe of potential buyers is shrinking.

With roughly 1,900 locations across the United States and Canada, and best known for its Corner Store brand, CST is a prime target for rival chain owners such as Canada’s Alimentation Couche-Tard, Sunoco and Marathon Petroleum. Even Tokyo-listed 7-Eleven owner Seven & i Holdings has been tossed around by analysts as a potential acquirer, but that looks unlikely considering its chairman and CEO said he’d step down this week.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Business , brands

   

Next In Business News

CapitaLand to reduce reliance on retail, ventures into industrial real estate, logistics, data centres Premium
Report: Affin Bank to dispose of asset management arm for over RM2bil Premium
BHIC to cooperate with MACC in combat vessels probe Premium
Uzma unit bags EnQuest job worth RM30mil Premium
Khairussaleh Ramli to be appointed Maybank president, CEO Premium
Bursa Malaysia rebounds on bargain hunting at final hour Premium
Azman Hashim to retire from AMMB board Premium
Azmin: Genting Hong Kong bankruptcy has no impact on Malaysian economy Premium
China property shares slump as planned U.S. rate hike adds to woes Premium
U.S. yields rise, Asian shares and European futures tumble as Powell warns on inflation Premium

Others Also Read


Vouchers