January 26, 2018 / 9:07 PM / 3 months ago

Casey's bids for Kroger convenience stores - CNBC

Jan 26 (Reuters) - Casey’s General Stores Inc has submitted a bid for Kroger Co’s convenience-store business that is worth about $2 billion, CNBC reported on Friday, citing sources familiar with the matter.

JCP Investment Management in January had asked Casey's to explore strategic alternatives, including a potential sale, and CNBC said buying Kroger's convenience-store business could stave off pressure to sell. (cnb.cx/2nekVBR)

Both companies were not immediately available for comment.

Casey’s shares closed up 2.7 percent at $127.73. Kroger shares closed up 2 percent at $30.88. (Reporting by Munsif Vengattil in Bengaluru; Editing by Savio D’Souza)

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