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

Investing.comAug 19, 2024 12:14 PM

View all comments（0）



Investing.com -- Canadian convenience store giant Alimentation Couche Tard Inc (TSX:ATD) has made a preliminary offer to buy Japan's Seven&i Holdings (TYO:3382), the owner of the 7-Eleven chain, said on Monday.

Seven&i Holdings in a statement said that the company has received a confidential, non-binding acquisition proposal from Alimentation Couche-Tard.

In response to media reports regarding the bid, Seven&i Holdings confirmed that its board of Directors has formed a special committee to review the proposal. The committee is led by Stephen Hayes Dacus, who serves as chairperson of the board.

The company’s statement clarified that no decision has yet been made regarding the acceptance or rejection of Alimentation Couche-Tard’s proposal.

The board and the special committee have not entered into any formal discussions with Alimentation Couche-Tard or pursued alternative transactions at this time, the company said.

Shares of Seven&i Holdings closed 22.7% higher on Monday.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Korean Stocks Trigger Circuit Breakers Twice in a Single Day; SK Hynix and Samsung Electronics Both Plunge 12%, Kioxia Tumbles Over 15%

Japanese and South Korean stock markets suffered a "Black Tuesday," as the KOSPI Index, Nikkei 225, Samsung Electronics, and Kioxia all plummeted.

South Korean Stocks Plunge to Trigger Circuit Breaker, Samsung and Hynix Suffer Bloodbath

The South Korean stock market triggered its second circuit breaker of June, as Samsung and SK Hynix were also hit by panic selling.

Japan and South Korea Stocks Slump on Profit-Taking; 'Memory Rising Star' Kioxia Bucks the Trend.

The decline in Japanese and South Korean stock markets at today's open was not driven by deteriorating fundamentals in a single country, but was rather the result of a confluence of multiple headwinds, including the overnight plunge in US tech stocks, sudden shifts in global political and geopolitical situations, and key domestic events in South Korea.

Accenture (ACN) Crashed 18% After Earnings — Is a Forward P/E Below 10 a Buying Opportunity?

TradingKey - Accenture stock plunged 17.97% after Q3 earnings despite an EPS beat and $3.6B in free cash flow. With RSI at 20.86 and forward P/E below 10, investors are asking whether ACN's selloff has gone too far.

Micron Technology (MU): What to Expect From the June 24 Earnings Report

TradingKey - Micron reports Q3 FY2026 earnings on June 24. Analysts expect EPS near $20 and revenue of $34.7B as investors focus on HBM4 demand, Nvidia's Vera Rubin platform, margins and FY2027 guidance.

Featured Tools