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Livewire Exclusive: Caltex Cruising on a Full Tank

Recent media reports carrying whispers of a stalking suitor forced Caltex Australia’s (CTX.ASX) hand, announcing to market this morning that it had received a second indicative offer from Alimentation Couche-Tarde Inc. (ACT) priced at $34.50 per share, a $2.50 per share increase over its earlier approach. Caltex shareholders would no doubt be pleased with this week’s turn of events that included a trading update yesterday detailing market share gains in the retail fuel market in the face of soft industry conditions.

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