Jan 16 (Reuters) - Caltex Australia Ltd CTX.AX :
* UPDATE ON DISCUSSIONS WITH ALIMENTATION COUCHE-TARD
* BOARD CONCLUDED THAT PROPOSAL UNDERVALUED CALTEX AND DID NOT REPRESENT COMPELLING VALUE FOR SHAREHOLDERS
* ENTERED INTO A CONFIDENTIALITY AGREEMENT WITH ATD TO FACILITATE PROVISION OF SELECTED NON-PUBLIC INFORMATION
* NO CERTAINTY THAT TALKS BETWEEN CO & ATD WILL RESULT IN ATD IMPROVING ITS INDICATIVE CASH PRICE OR IN ATD MAKING BINDING PROPOSAL Source: https:// Further company coverage: CTX.AX