Commissar SFLUFAN Posted August 20 Share Posted August 20 7-Eleven: Canadian retail giant makes £29.2bn takeover bid WWW.BBC.COM Shares in the Japan-based convenience store chain's parent company rose by more than 20% on the news. Quote A Canadian convenience store giant has made a bid worth $38bn (£29.2bn) for the Japanese-owned 7-Eleven in what could be the country's record foreign takeover. Circle K owner Alimentation Couche-Tard (ACT) made the approach for the chain - a staple across Asia and North America - on Monday. ACT's footprint in the US and Canada would more than double to more than 20,000 sites if the deal goes ahead. The offer of 5.6 trillion Japanese yen valued 7-Eleven at a fifth more than its pre-bid price on the Japanese stock market. ACT said it had "submitted a friendly, non-binding proposal" to buy the retail chain but that there was no guarantee it would go ahead. "The company is focused on reaching a mutually agreeable transaction that benefits both companies’ customers, employees, franchisees and shareholders," ACT said. Meanwhile, Tokyo-based Seven & i Holdings, which owns 7-Eleven, said it has formed a special committee to consider the offer. It said it had "received a confidential, non-binding and preliminary proposal by ACT to acquire all [of its] outstanding shares". "[The] special committee intends to conduct a prompt, careful and comprehensive review of the proposal," it added. If a deal is agreed it could face challenges from competition watchdogs in North America. The 7-Eleven chain runs more than 13,000 stores in the US and Canada, while Couche-Tard has more than 9,000. Quote Link to comment Share on other sites More sharing options...
Reputator Posted August 20 Share Posted August 20 Circle K has 28 billion to spend? Circle K is Canadian? 7-Eleven is Japanese? Jurassic Park dinosaurs weren't real??!? 1 2 1 Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted August 20 Share Posted August 20 Makes sense, Canada consumes more slurpees per capita than anywhere. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 20 Author Share Posted August 20 2 minutes ago, Reputator said: Circle K has 28 billion to spend? I made an error in the title. It's a $38 billion bid. 1 Quote Link to comment Share on other sites More sharing options...
LazyPiranha Posted August 20 Share Posted August 20 Strange things are afoot at the Circle K 1 1 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 20 Author Share Posted August 20 1 minute ago, LazyPiranha said: Strange things are afoot at the Circle K I was wondering how many posts it would take to get to that! 1 Quote Link to comment Share on other sites More sharing options...
LazyPiranha Posted August 20 Share Posted August 20 Just now, Commissar SFLUFAN said: I was wondering how many posts it would take to get to that! I aim to please 1 Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted August 20 Share Posted August 20 I have a circle k close to me. I have a 7-Eleven close to me. I don’t like this. Quote Link to comment Share on other sites More sharing options...
Reputator Posted August 20 Share Posted August 20 Circle K Jerks Quote Link to comment Share on other sites More sharing options...
LazyPiranha Posted August 20 Share Posted August 20 I hope this doesn’t mess with the plan of bringing some of those Japanese 711 staples stateside. 1 Quote Link to comment Share on other sites More sharing options...
Jason Posted August 20 Share Posted August 20 1 minute ago, LazyPiranha said: I hope this doesn’t mess with the plan of bringing some of those Japanese 711 staples stateside. Was about to post the same thing. 1 Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted August 20 Share Posted August 20 38 Billion is nothing, just pull it from the slushie fund! 1 2 Quote Link to comment Share on other sites More sharing options...
Bacon Posted August 20 Share Posted August 20 We once had Dairy Mart and Sheetz Now we have Circle K and Sheetz Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 20 Share Posted August 20 Nooooooo Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted August 20 Share Posted August 20 There is one Circle K several miles away from me while there is a 7-11 almost anywhere you go. It's odd to think Circle K has more money. Quote Link to comment Share on other sites More sharing options...
SoberChef Posted August 20 Share Posted August 20 4 hours ago, Commissar SFLUFAN said: I was wondering how many posts it would take to get to that! There will come a time when that reference will no longer be referenced ... and that saddens me! 1 Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 20 Share Posted August 20 I don’t give a fuck who owns what just GIVE ME THE GODDAMN ONIGIRI Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 20 Share Posted August 20 Americans have no IDEA how badly Japanese food shits all over our so-called “food” like it’s not even a contest 1 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 20 Share Posted August 20 2 hours ago, Uaarkson said: Americans have no IDEA how badly Japanese food shits all over our so-called “food” like it’s not even a contest I got a package of seaweed as a snack for my girls one time from Kroger and it was awful. We usually get it from an Asian food store and that shit is the bomb Quote Link to comment Share on other sites More sharing options...
AbsolutSurgen Posted August 20 Share Posted August 20 12 hours ago, Keyser_Soze said: There is one Circle K several miles away from me while there is a 7-11 almost anywhere you go. It's odd to think Circle K has more money. The company is Couche-Tard, despite what the thread title says (Circle-K is one of their brands) Couche-Tard's revenue is slightly over that of Seven & I (7-Eleven's holding company), but their profits are significantly higher. I suspect it has to do with 7-Eleven's (mostly) franchising model (vs. Couche-Tard's ownership model). Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted August 20 Share Posted August 20 7 minutes ago, AbsolutSurgen said: The company is Couche-Tard Well we can't have 7-11 bought by such a dumb name. 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 20 Share Posted August 20 9 minutes ago, AbsolutSurgen said: Couche-Tard 1 Quote Link to comment Share on other sites More sharing options...
AbsolutSurgen Posted August 20 Share Posted August 20 Just now, Keyser_Soze said: Well we can't have 7-11 bought by such a dumb name. How is "Night Owl" (literally late-to-bed) a dumb name for a convenience store? Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 20 Share Posted August 20 Lol Couche-Tard French Canada (well, French anything really) is a fundamentally unserious place 2 Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted August 20 Share Posted August 20 1 hour ago, Uaarkson said: Lol Couche-Tard French Canada (well, French anything really) is a fundamentally unserious place I am French and can confirm this! Quote Link to comment Share on other sites More sharing options...
DPCyric Posted August 20 Share Posted August 20 6 hours ago, Uaarkson said: Americans have no IDEA how badly Japanese food shits all over our so-called “food” like it’s not even a contest Thailand 7-11's as well Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted August 20 Share Posted August 20 2 hours ago, Mr.Vic20 said: I am French and can confirm this! This reminds me of someone I saw in PSO2. Their bio just says: I AM FRENCH Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted August 20 Share Posted August 20 3 minutes ago, Keyser_Soze said: This reminds me of someone I saw in PSO2. Their bio just says: I AM FRENCH Internet, so 49.5/49.5/1% chance. 49.5% - is French 49.5% - isn't French 1% - Time raveling, shit poster Hitler strikes again! 1 Quote Link to comment Share on other sites More sharing options...
skillzdadirecta Posted August 20 Share Posted August 20 I have at least two, maybe three 7-11's in walking distance both at my place in LA and at my Parent's place in Jersey. crazy. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 20 Share Posted August 20 20 hours ago, Reputator said: 7-Eleven is Japanese? They are originally from Dallas but a Japanese company bought them. Im not sure if they are great in Japan because they are owned by a Japanese company or if they are owned by a Japanese company because they did so well in Japan. The original one was across the street from my middle school and kids were always making their way over there. Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 20 Share Posted August 20 23 minutes ago, SuperSpreader said: They are originally from Dallas but a Japanese company bought them. Im not sure if they are great in Japan because they are owned by a Japanese company or if they are owned by a Japanese company because they did so well in Japan. The original one was across the street from my middle school and kids were always making their way over there. Japanese 7-11 is legendary! They have so many goodies. Quote Link to comment Share on other sites More sharing options...
Fizzzzle Posted August 20 Share Posted August 20 As someone who is about to spend an unknown amount of time in the armpits of southeast Asia, where 7-11 is literally the only thing keeping me supplied with beer and food... This is concerning Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 20 Share Posted August 20 1 hour ago, Uaarkson said: Japanese 7-11 is legendary! They have so many goodies. We know this Quote Link to comment Share on other sites More sharing options...
Fizzzzle Posted August 20 Share Posted August 20 Just now, SuperSpreader said: We know this 7-11 all over Asia is a game changer. I've been to places in Indonesia where 7-11 is the only place to get hot food and beer (and clean water if you're a little bitch) for miles. Next week I'll be staying somewhere in Bangkok where there's literally a 7-11 across the street from a 7-11 1 1 Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 20 Share Posted August 20 30 minutes ago, SuperSpreader said: We know this Quote Im not sure if they are great in Japan 1 Quote Link to comment Share on other sites More sharing options...
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