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Canada's Couche-Tard makes preliminary bid for Japan's Seven & i
2024-08-19 14:59:10
Business
Companies

Canada's Couche-Tard makes preliminary bid for Japan's Seven & i

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Canadian convenience store operator, Couche-Tard, has made a preliminary bid to acquire Seven & i Holdings, the owner of 7-Eleven in Japan. If successful, this deal would be the largest overseas buyout of a Japanese firm.

Couche-Tard, known for its Circle-K stores, has been actively expanding its global presence, acquiring TotalEnergies' petrol stations in Europe and the U.S. Speedway chain in 2020. Seven & i has formed a special committee to review Couche-Tard's proposal.

This bid comes as Japan has recently changed its merger and acquisition policies to be more open to foreign takeovers, challenging its traditionally guarded approach to overseas acquisitions.

Related news on that topic:

Couche-Tard's Record Bid for Seven & i: A Major Global Expansion ... Expansion Move

Alimentation Couche-Tard Inc. from Canada has made an unprecedented offer to acquire Japanese retailer Seven & i Holdings Co. in a deal worth over $34.3 billion. The bid, if accepted, would mark the largest foreign takeover of a Japanese company to date. Seven & i, known for its 85,000 stores under brands like Circle K and Ingo, is under pressure from activist investors and is considering restructuring. The acquisition would create a global network of around 100,000 stores. Couche-Tard's strategic move, driven partly by a weak yen, aims to strengthen its Asian presence. Seven & i's stocks surged by over 20% following the news, showcasing market excitement over the potential merger and the significant impact it could have on the convenience store industry.

Seven & i shares give up some gains after Couche-Tard bid

Canadian company Alimentation Couche-Tard has proposed buying all outstanding shares of Japan's Seven & i Holdings, the owner of 7-Eleven stores. The deal would value Seven & i at around $38 billion, making it the largest-ever Japanese target of a foreign buyout. Seven & i shares surged by almost 23% on Monday but fell by 5.7% on Tuesday after losing more than 12% shortly after the open. The potential merger would create a global convenience store giant. Estee Lauder has lowered its forecasts as customers cut back on affordable luxuries due to higher prices. Seven & i has set up a Special Committee to review the buyout proposal.

The press radar on this topic:

New York Times - Business
19. August 2024 um 17:04

7-Eleven Gets Buyout Offer From Canadian Owner of Circle K

Economy
Finance
Alimentation Couche-Tard, a Canadian convenience store operator with over 16,000 stores, has made a preliminary $38 billion bid to acquire Seven & i Holdings, the Japanese 7-Eleven parent with 85,000 global stores. Seven & i has established a committee of independent directors to review the unsolicited takeover offer, which could become the largest foreign acquisition of a Japanese company. This deal would test Japan's recent reforms to encourage companies to consider legitimate takeover bids,..
CNBC
19. August 2024 um 09:10

Canada's Couche-Tard makes preliminary bid for Japan's Seven & i

Economy
Finance
Couche-Tard, $58 billion operator of Circle-K stores, made preliminary bid for Seven & i, Japan's 7-Eleven owner. Deal would be largest overseas buyout of Japanese firm, after Toshiba chip sale. Couche-Tard recently bought TotalEnergies' European petrol stations for $3.3 billion, made $20 billion bid for Carrefour, and bought U.S. Speedway chain for $21 billion in 2020. Seven & i has formed a special committee to review Couche-Tard's proposal.
The Guardian
19. August 2024 um 11:27

Owner of 7-Eleven stores receives buyout offer from Canadian rival

Economy
Finance
Canadian rival Alimentation Couche-Tard bids to buy 7-Eleven from Seven & i, leading to stock surge. ACT has 16,700+ stores in 31 countries; it tried to acquire Carrefour in 2021.
Kinh doanh - VnExpress
19. August 2024 um 10:32

Công ty mẹ Circle K muốn mua doanh nghiệp đứng sau 7-Eleven

Economy
Finance
Alimentation Couche-Tard, parent company of Circle K, has proposed to acquire Seven & I Holdings, the company behind 7-Eleven, in what could be the largest M&A deal between a foreign company and a Japanese firm worth over $50 billion. Seven & I, which operates 85,000 convenience stores across 20 countries and aims to expand to 100,000 stores in 30 countries by 2030, reported $75 billion in revenue. Alimentation Couche-Tard, a Canadian retail giant worth $80 billion with 17,000 stores under the..
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