Circle K Bids for Store Chain: Circle K Corp. offered to buy National Convenience Stores Inc. for $17 a share in cash, or about $103 million, in a combination that would operate or franchise more than 3,100 convenience stores. Phoenix-based Circle K said it would assume about $100 million of National Convenience debt, for a total transaction value of $203 million. The new entity would have stores in 28 states, with annual revenue of about $4.5 billion, Circle K said. National Convenience, based in Houston, operates 661 Stop ‘N Go stores in Texas.
<i> Times Staff and Wire Reports</i>