Seven & i Says Couche-Tard Buyout Offer "Significantly" Underestimates 7-Eleven Operator's Value
By Megumi Fujikawa
TOKYO--Seven & i Holdings said Friday that a buyout offer by Alimentation Couche-Tard "significantly" underestimated the value of the Japanese operator of 7-Eleven convenience stores.
Seven & i said that Alimentation Couche-Tard offered to acquire all outstanding shares of Seven & i at $14.86 per share in cash.
"We are open to sincerely consider any proposal that is in the best interests of Seven & i shareholders and other stakeholders," the Japanese company said in a letter to the Canadian owner of Circle K convenience stores.
"However, we will resist any proposal that deprives our shareholders of the company's intrinsic value or that fails to specifically address very real regulatory concerns," it added.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
(END) Dow Jones Newswires
September 05, 2024 20:51 ET (00:51 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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