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Refined proposal

13 February 2020 By Alec Macfarlane

Petrol station operator Couche-Tard has sweetened a bid for its peer Down Under to $5.9 bln. While only a 2% top-up, the alternatives are looking less appealing. The breakup value doesn’t quite stack up, especially in the current climate. It would be best for Caltex to accept.

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