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Couche-Tard's Record Bid for Seven & i: A Major Global ...
2024-08-19 09:00:10
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Couche-Tard's Record Bid for Seven & i: A Major Global Expansion Move

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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.

Related news on that topic:

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.

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

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.

The press radar on this topic:

Yahoo!
19. August 2024 um 05:36

Couche-Tard Makes Offer for Seven & I in Record Japan Bid

Economy
Finance
Canadian convenience-store operator Alimentation Couche-Tard Inc. has made a buyout proposal for Japanese retailer Seven & i Holdings Co., which operates 85,000 convenience stores, gasoline stations and retail outlets under brands like Circle K and Ingo. The offer, if accepted, would be the largest-ever foreign takeover of a Japanese company, potentially worth over ¥5 trillion ($34.3 billion). Seven & i has faced pressure from activist fund ValueAct Capital Management LP and is considering a s..
Yahoo!
19. August 2024 um 04:41

Japan's Seven & i receives takeover offer from Canada's Couche-Tard, Nikkei says

Economy
Finance
TOKYO (Reuters) -Japanese retailer Seven & i holdings has received a takeover offer from Canada's Alimentation Couche-Tard, the Nikkei newspaper reported on Monday. Seven & i's shares surged by 22.7%, their daily trading limit, on the Tokyo exchange. Representatives from the company did not immediately respond to a request for comment. Seven & i, operator of the 7-Eleven convenience store chain, has set up a committee to scrutinise the proposal, including the valuation, the Nikkei said. If the..
BBC
19. August 2024 um 07:18

7-Eleven gets takeover offer from Canadian firm

Economy
Finance
7-Eleven owner receives takeover offer from Canadian rival Alimentation Couche-Tard (ACT); Tokyo-based Seven & i Holdings forms special committee to review proposal. Shares in Seven & i jump by more than 20%, reaching a stock market valuation of around 5.6tn yen. ACT proposes to acquire all outstanding shares of Seven & i. Activist investors push Seven & i to focus on the 7-Eleven brand amidst global convenience store business. Quebec-based ACT, owner of Circle K chain, operates 17,000 shops in..
seekingalpha
19. August 2024 um 07:08

Canada's Couche-Tard eyes Japan's Seven & i for takeover - report

Economy
Finance
Politics
Canada's Couche-Tard, with a market cap close to C$80B, has made a ¥5T takeover offer for Japan's Seven & i, a major convenience store chain. The proposal, which may have been influenced by activist investors pressuring Seven & i to improve its business strategies, is being scrutinized by a committee as Couche-Tard looks to expand in Asia, though the share acquisition method is unclear. Shares of Seven & i jumped about 23% on the Tokyo Stock Exchange.
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