US EditionFueling Up: Was Seven & I Ever Interested in Couche-Tard’s Buyout Offer?
QUEBEC, CANADA, JUL 21 – Couche-Tard will repurchase up to 77.1 million shares worth about $4.2 billion to support shareholder value after ending its $46 billion bid for Seven & i Holdings.
- On Monday, Alimentation Couche-Tard resumed its share repurchase program, pledging to repurchase 77.1 million shares worth about $4.2 billion after scrapping its $46 billion bid for Seven & i, Reuters.
- Couche-Tard scrapped its takeover bid last week, saying Seven & i refused to engage constructively, as Miller and Bouchard said its due diligence was negligible, while Seven & i said it engaged in good-faith discussions.
- With a market cap near $15.95 billion, Couche-Tard said the Toronto Stock Exchange approved its buyback of up to 10% of shares, worth about $5.8 billion, as the stock is down about 5% this year.
- Investors pushed shares higher on July 17, and the company said repurchasing 77.1 million shares is an appropriate use of cash.
- The buyback program will run from July 23 through July 22, 2026, Couche-Tard said, following an aborted bid that would have been Japan's largest-ever foreign buyout.
17 Articles
17 Articles
Seven & i Denies Snubbing Couche-Tard’s $46 Billion Takeover Bid
Seven & i Holdings Co. pushed back against Alimentation Couche-Tard Inc.’s assertions that it refused to engage in meaningful talks over a potential merger, saying that the Canadian suitor didn’t take antitrust concerns seriously enough and doesn’t understand how business is conducted in Japan.
Sask Today
Couche-Tard restarts share buybacks after ending Seven & i takeover bid
LAVAL — Alimentation Couche-Tard Inc. says it's restarting its share buyback program after it announced last week that it had ended its efforts to acquire the owner of the 7-Eleven chain. Laval, Que.
Colorado Springs Gazette
Denver GazetteCanada's Couche-Tard resumes share buyback after scrapping Seven & I acquisition bid
(Reuters) -Canada's Alimentation Couche-Tard on Monday said it was resuming its share repurchase program days after the Circle K-parent scrapped its $46-billion attempt to buy Japan's Seven & I.
The announcement takes place a few days after the failure of its negotiations with Seven & i Holdings. The post Couche-Tard announces a new share buyback regime appeared first on Les Affaires.
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