RETAILING

National Convenience Stores Target of Hostile Bid: Circle K Corp. said it will begin a $20-a-share hostile offer for the company and that it filed two lawsuits seeking to kill National Convenience’s takeover defenses, including the Houston-based company’s new “poison pill.” Circle K values the offer at about $232 million, including the assumption of about $103 million in National Convenience debt. National Convenience Stores last week rejected Circle K’s attempt to negotiate a $17-a-share offer for its approximately 6 million outstanding shares, saying it is in the best interests of shareholders to remain independent. Circle K Chairman John Antioco said combining the companies is so attractive that he’s willing to fight.