Japanese company Seven & i Holdings, the parent company of 7-Eleven, recently rejected a takeover proposal from Canadian company Alimentation Couche-Tard. However, Seven & i has now received a new non-binding acquisition proposal from Couche-Tard. The company declared its commitment to maximizing its shareholders' and stakeholders' interests, promising to keep negotiation details confidential at Couche-Tard’s request.
Reports suggest that Couche-Tard has raised its acquisition offer to approximately $47 billion. Earlier, in September, Seven & i turned down Couche-Tard's previous bid of $39 billion, which equated to $14.86 per share. At that time, Seven & i argued that the offer underestimated the company's value and did not adequately address regulatory concerns. Both companies have extensive store networks in the United States, which could potentially raise antitrust issues.
Seven & i has not disclosed further details about the new proposal.
