Nov 26 (Reuters) - Alimentation Couche-Tard ( ANCTF ) CEO
Alex Miller said on Tuesday the Canadian retailer would remain
persistent in its efforts to pursue a deal with Japan's Seven &
i ( SVNDF ) and continue a "friendly approach" with the 7-Eleven
operator.
Couche-Tard had first approached Seven & i ( SVNDF ) in August for the
largest-ever foreign buyout of a Japanese company. It had
offered $38.5 billion, but raised it to $47 billion after Seven
& i ( SVNDF ) rejected the initial bid.
Miller's remarks echo Couche-Tard's chairman and co-founder
Alain Bouchard's comments about not considering a hostile
takeover bid for Seven & i ( SVNDF ) from an interview with Japanese media
conducted in Canada last week.
"We continue to see a strong opportunity to grow together
... We also remain confident in our ability to finance and
complete this combination," Miller said on a post-earnings call.
The Japanese company, which is reviewing the latest offer
from Couche-Tard, had earlier said the deal was not in the best
interest of shareholders and also raised concerns about
potential antitrust challenges in the United States.
Earlier this month, Seven & i ( SVNDF ) also received a potential $58
billion white-knight bid from a member of its founding Ito
family.
The offer from Ito-Kogyo, a company linked to Vice President
Junro Ito and a top shareholder in Seven & i ( SVNDF ), was being reviewed
by the same special committee set up to assess Couche-Tard's
takeover bid.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by
Shinjini Ganguli)