Seven & i Holdings - the owner of 7-Eleven, recently denied the takeover offer from Alimentation Couche-Tard - a major Canadian convenience store operator. A letter was sent out to the Canadian firm on the 6th, stating that the offer had “grossly under-evaluated” the Japanese retail giant’s worth.
In light of the situation, Couche-Tard issued a statement on the 8th, expressing its disappointment over how Seven & i refused to even engage in friendly discussion. The firm also hinted at its ability to raise the bid price, saying: “We are highly confident that we have sufficient capacity to finance the transaction in cash and that financing would not be a condition to closing a transaction."
Additionally, in response to Seven & i’s concerns about issues on US competition law, Couche-Tard said it would consider divesting certain assets to gain regulatory approval.
Source: NHK
