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Update (09/06): 7-Eleven parent company rejects $38 billion takeover bid from Circle-K parent company


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  • 3 weeks later...
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Even if the offer was raised "very significantly," Seven & i said the bid does not consider the "multiple and significant challenges" it would face.

 

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Seven & i Holdings has rejected the takeover offer from Canadian convenience store operator Alimentation Couche-Tard, saying the offer “is not in the best interest” of its shareholders and stakeholders.

 

In a filing with the Tokyo Stock Exchange, the owner of 7-Eleven revealed that Couche-Tard had offered to acquire all outstanding shares of Seven & i for $14.86 per share. According to LSEG data, the offer price will value Seven & i at $38.55 billion.

 

Stephen Dacus, chairman of the special committee that Seven & i had formed to evaluate Couche-Tard’s proposal, called the proposal “opportunistically timed and grossly undervalues our standalone path and the additional actionable avenues we see to realize and unlock shareholder value in the near- to medium-term.”

 

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  • Commissar SFLUFAN changed the title to Update (09/06): 7-Eleven parent company rejects $38 billion takeover bid from Circle-K parent company

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