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Couche-Tard drops its takeover bid for 7-Eleven
CANADA, JUL 16 – Couche-Tard ended its $47 billion offer after citing obstructive talks and resistance from Seven & i’s management and founding family during a year-long pursuit, Dealogic data shows.
- Canadian company Alimentation Couche-Tard has ended its $47 billion attempt to take over Japan's Seven & i Holdings, citing unproductive discussions with the Japanese retailer.
- The withdrawal followed prolonged negotiations marked by limited cooperation from Seven & i's leadership and the founding Ito family, frustrating Couche-Tard's acquisition efforts.
- Couche-Tard had raised its offer from $38.5 billion to $47 billion last year and offered further increases conditional on financial disclosures, while Seven & i pursued a standalone value plan.
- Seven & i described Couche-Tard's decision as disappointing, stating it disagreed with mischaracterizations and remained committed to its independent growth strategy amid share price falls.
- This decision marks the end of Couche-Tard’s year-long effort to merge Circle K with 7-Eleven, aiming to build one of the world's largest convenience store networks, and underscores the difficulties foreign companies face when attempting to acquire Japanese businesses.
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Couche-Tard likely to regroup with smaller deals after scrapping 7-Eleven bid
Alimentation Couche-Tard Inc.'s decision to step away from a proposal to buy the Japanese parent company of 7-Eleven was being chalked up as a "missed opportunity" a day after it announced its pullback. Shares in the Laval, Que.
·Bradford West Gwillimbury, Canada
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Canada's Couche-Tard drops 7-Eleven takeover bid
MONTREAL, Canada – Alimentation Couche-Tard (ACT) said Wednesday it has withdrawn its $47-billion offer for the owner of 7-Eleven, ending a months-long saga to acquire the Japanese giant. The Canadian company made an offer last year of nearly $40 billion to create the world’s biggest convenience store chain and then sweetened the bid to $47
·Manila, Philippines (the)
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Coverage Details
Total News Sources169
Leaning Left44Leaning Right14Center51Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 40%
C 47%
13%
Factuality
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