Breaking News Instant updates and real-time market news.

CAPL

CrossAmerica

$18.15

0.15 (0.83%)

, ANDV

Andeavor

$147.76

2.82 (1.95%)

14:46
08/20/18
08/20
14:46
08/20/18
14:46

FTC approves Alimentation Couche-Tard sale of two Minnesota fuel stations

The Federal Trade Commission has approved an application by Alimentation Couche-Tard (ANCUF) to divest two retail fuel stations in Minnesota. The divestitures are required under the FTC's Feb. 15, 2018 final order settling charges that ACT's proposed acquisition of Holiday Companies would violate federal antitrust law. The application requests that the FTC approve the divestiture of the two retail fuel stations located in Saint Peter and Minnetonka to the Andeavor Corporation (ANDV) subsidiary Northern Tier Retail. The application also included a third station in Saint Paul, but ACT later asked to divest the station to Twin City Petroleum & Property instead. That application is pending final approval by the Commission. Under the terms of the consent agreement, ACT and its affiliate, CrossAmerica Partners (CAPL) are required to identify a buyer or buyers that are acceptable to the Commission within 120 days after the issue date of the order, which was June 15, 2018, and to divest 10 retail fuel stations. The agreement also requires ACT and CAPL to maintain the economic viability, marketability, and competitiveness of each station until the divestiture is complete.

CAPL

CrossAmerica

$18.15

0.15 (0.83%)

ANDV

Andeavor

$147.76

2.82 (1.95%)

ANCUF

Alimentation Couche-Tard

$0.00

(0.00%)

CAPL CrossAmerica
$18.15

0.15 (0.83%)

12/19/17
RILY
12/19/17
INITIATION
Target $30
RILY
Buy
CrossAmerica resumed with a Buy at B. Riley FBR
B. Riley FBR analyst Robert Balsamo resumed coverage of CrossAmerica Partners with a Buy rating and $30 price target.
02/28/18
BARD
02/28/18
DOWNGRADE
BARD
Neutral
CrossAmerica downgraded to Neutral from Outperform at Baird
ANDV Andeavor
$147.76

2.82 (1.95%)

05/18/18
TUDR
05/18/18
DOWNGRADE
TUDR
Hold
Andeavor downgraded to Hold from Buy at Tudor Pickering
06/29/18
USCA
06/29/18
DOWNGRADE
USCA
Hold
Andeavor downgraded to Hold from Buy at US Capital Advisors
08/02/18
MZHO
08/02/18
INITIATION
Target $158
MZHO
Neutral
Andeavor initiated with a Neutral at Mizuho
Mizuho analyst Paul Sankey started Andeavor (ANDV) with a Neutral rating and $158 price target. The analyst believes Andeavor shares are pegged to Marathon Petroleum's (MPC) offer of 1.87 Marathon share or $152 cash.
08/14/18
RBCM
08/14/18
NO CHANGE
Target $151
RBCM
Sector Perform
Andeavor price target raised to $151 from $137 at RBC Capital
RBC Capital analyst Brad Heffern raised his price target on Andeavor (ANDV) to $151 after its "solid" Q2 earnings beat driven by stronger throughput margin. The analyst also notes that the company's strategic combination with Marathon Petroleum (MPC) remains on track to close on October 1st. Based on the current valuation of that acquisition relative to their previously agreed share exchange ratio, Heffern keeps his Sector Perform rating on Andeavor.
ANCUF Alimentation Couche-Tard
$0.00

(0.00%)

TODAY'S FREE FLY STORIES

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.