Casey’s General Stores agreed Wednesday, April 28, to sell six of its gas stations to end antitrust allegations.
The planned sale comes in response to a Federal Trade Commission complaint that the Ankeny company’s proposed acquisition of the Omaha, Nebraska-based Bucky’s Convenience Stores chain would increase its monopoly power in some parts of Iowa and Nebraska. The agency added that the purchase increased “the likelihood of collusive or coordinated interaction.”
Casey’s owns about 2,200 convenience stores in 16 states, primarily in the Midwest. The company reported US$38.6 million in net income for the quarter ending January 31, up 14% over the same period last year.
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