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Updated Friday, September 10, 2010 10:04 pm TWN, AP

7-Eleven Inc. bids US$2 billion for Casey's General Stores: report

NEW YORK -- Convenience store operator 7-Eleven Inc. is the mystery bidder for Casey's General Stores Inc. that is trying to top a Canadian rival, according to a published report. Casey's, based in Ankeny, Iowa, operates a chain of convenience stores in the Midwest. It has rejected several offers by Canadian company Alimentation Couche-Tard Inc., including the latest bid of US$38.50 a share, which it shot down Tuesday.

At that time, Casey's also said it had received a higher bid at US$40 a share from an unnamed party. The company said the bid was also too low but it agreed to further talks with the suitor. 7-Eleven and Casey's declined to comment.

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