Tag: $Seven & i Holdings

Alimentation Couche-Tard and Seven & i expect concrete negotiations with private equity groups to start within weeks on the carve-out of thousands of stores in the US, in a pivotal moment for the Canadian group’s $47bn takeover attempt of the 7-Eleven owner.

Japan’s Seven & i Holdings said on Monday that talks have begun with Canada’s Alimentation Couche-Tard (ACT) over a store sale plan that would set the stage for ACT’s $47 billion takeover bid.

The Japan-based owner of the worldwide 7-Eleven chain said Thursday it would split its North American convenience stores into a separate listed company, saying U.S. stores would be better off with more independence.

Japan’s Seven & I Holdings said on Thursday its founding Ito family could not secure the financing required for a $58 billion management buyout, and it would consider a rival offer from Canada’s Alimentation Couche-Tard.

Apollo Global Management is considering investing as much as 1.5 trillion yen ($9.5 billion) in a management buyout of Japan’s Seven & i Holdings, Bloomberg News said on Friday, citing several people with knowledge of the matter.

Seven & i Holdings reported a drop in quarterly net profit but promised to complete restructuring and seek further growth globally as it faced a takeover offer from the Canadian owner of Circle K.

A son of the founder of the Japanese retail giant that owns the 7-Eleven convenience-store chain has proposed a buyout of the holding company, the latest twist in a global standoff between the Japanese company and the Canadian owner of Circle K, which has proposed its own takeover deal.

Canada’s Alimentation Couche-Tard (ACT)  has made a revised bid for Seven & i Holdings, the Japanese company said on Wednesday, which two people familiar with the matter said hiked the offer by 22% to about $47 billion.

Shares of Seven & i Holdings fell on Wednesday following a report that the U.S. Federal Trade Commission has informed the Japanese retail giant about a potential investigation into a possible deal with Canada’s Alimentation Couche-Tard.

 Japanese retail giant Seven & i Holdings said on Friday it had turned down Canada’s Alimentation Couche-Tard’s $38.5 billion cash bid, rejecting an offer that would be the largest-ever foreign buyout of a Japanese company.

Internal talks on blocking takeover attempt by Canada’s Couche-Tard comes despite official moves to look at best value for investors

Shares in Japan’s Seven & i , the owner of 7-Eleven, closed nearly 11% lower on Tuesday as investors weighed up regulatory hurdles to a takeover bid from Canada’s Alimentation Couche-Tard to create a convenience store giant with almost a fifth of the U.S. market.

Seven & i Holdings reported a drop in first-quarter net profit as its overseas convenience-store business deteriorated sharply, partly due to higher costs of products and labor in the U.S.