financetom
Business
financetom
/
Business
/
Couche-Tard to approach Seven & i again after $38.5 billion offer rejection, Bloomberg News reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Couche-Tard to approach Seven & i again after $38.5 billion offer rejection, Bloomberg News reports
Sep 8, 2024 5:51 PM

Sept 8 (Reuters) - Alimentation Couche-Tard ( ANCTF )

plans to tell 7-Eleven operator Seven & i Holdings ( SVNDF ) that

it was still keen to pursue an acquisition, Bloomberg News

reported on Sunday citing people familiar with the matter.

The Canadian convenience retailer plans to write to the Japanese

retailer in the coming days to reiterate its interest in a deal

and has not ruled out going directly to the shareholders with

its bid, the report said.

Couche-Tard and Seven & i ( SVNDF ) did not immediately respond to a

Reuters request for comment.

Seven & i ( SVNDF ), which said last month it had received an offer

from Circle-K owner Couche-Tard without naming the price,

disclosed the bid was at $14.86 a share and said it was open to

"sincerely consider" any proposals.

The proposal could signal a willingness to offer a higher

price if Seven & i ( SVNDF ) agrees to friendly negotiations, the report

said citing one person familiar with the matter.

The 7-Eleven operator has said the proposal is not in the

best interest of its shareholders and could face antitrust

challenges in the U.S., as the combined entity would be the

convenience store industry's biggest by a considerable margin.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tesla layoffs include 14% of Buffalo workers, WARN notice shows
Tesla layoffs include 14% of Buffalo workers, WARN notice shows
Apr 17, 2024
April 17 (Reuters) - Tesla plans to lay off 285 employees in Buffalo, New York, a legally mandated notice showed on Wednesday, as the electric-vehicle maker trims 10% of its workforce. The notice was issued under the Worker Adjustment and Retraining Notification (WARN) Act which requires employers to provide a 60-day notice before layoffs. The company has a total of...
Citizens' profit slips on weak interest income, expects loans to pick up H2
Citizens' profit slips on weak interest income, expects loans to pick up H2
Apr 17, 2024
April 17 (Reuters) - Citizens Financial on Wednesday reported a lower first-quarter profit as it earned less from customer interest payments, but its chief executive predicted that demand for loans could improve in second half of the year. Banks in the United States have been bracing for a turnaround in gains from interest income, as they paid more to retain...
US watchdog to look into FAA's oversight of Boeing 737, 787 manufacturing, Semafor reports
US watchdog to look into FAA's oversight of Boeing 737, 787 manufacturing, Semafor reports
Apr 17, 2024
(Reuters) - The U.S. Department of Transportation's watchdog is looking into the Federal Aviation Administration's oversight of Boeing's ( BA ) manufacturing of 737s and 787s, Semafor reported on Wednesday. It's very healthy for the (Office of Inspector General) to be constantly auditing everything that happens across the DoT, the report quoted U.S. Transportation Secretary Pete Buttigieg as having said...
Bank of America Likely to Thrive in Current Rate Environment, RBC Says
Bank of America Likely to Thrive in Current Rate Environment, RBC Says
Apr 17, 2024
04:09 PM EDT, 04/17/2024 (MT Newswires) -- Bank of America ( BAC ) remains well-positioned to thrive in the current rate environment, RBC Capital Markets said in a note, after Federal Reserve Chair Jerome Powell Tuesday indicated the central bank will likely stick with higher for longer strategy to rein in inflation. The bank should also manage well over the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved