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Circle K owner Alimentation Couche-Tard Inc. slightly missed earnings estimates for its fiscal fourth quarter earnings because of lower fuel demand.
Alimentation Couche-Tard Inc. said several potential buyers have made proposals to acquire convenience stores in the US that overlap with Seven & i Holdings Co., showing progress toward a deal that could help the Canadian retailer win regulatory approval for its proposal to buy its Japanese rival.
The annual meeting of Seven & i Holdings Co. shareholders is likely to be a low-key event, despite the drama surrounding a company facing a takeover proposal by Alimentation Couche-Tard Inc., the operator of Circle K stores.
Alimentation Couche-Tard Inc. and Seven & i Holdings Co. have signed a non-disclosure agreement that will give the Canadian company access to the 7-eleven operator’s financial data as it seeks to formalize an buyout offer, the companies said.
None of Seven & i Holdings Co.’s shareholders submitted proposals to be voted upon at the company’s annual meeting next month, despite previously issuing strong calls for the retailer to engage in merger talks with Alimentation Couche-Tard Inc.
Private equity firms are showing strong interest in buying about 2,000 North American convenience stores that could be divested if Alimentation Couche-Tard Inc. succeeds in its ¥7.39 trillion ($49 billion) endeavor to buy out Seven & i Holdings Co., the chief financial officer of the Canadian company said.
Potential buyers for a divestiture package of Seven & i Holdings Co. and Alimentation Couche-Tard Inc.’s US convenience stores have until the end of the month to express their interest and show they can overcome antitrust concerns as talks over a possible union continue, according to people familiar with the matter.
Canada’s Alimentation Couche-Tard Inc. is trying to assure shareholders that management hasn’t lost sight of operations amid fragile talks over a potential takeover of rival Seven & i Holdings Co.
Seven & i Holdings Co. signed a confidentiality pact with Alimentation Couche-Tard Inc., allowing the two companies to advance discussions on addressing antitrust concerns arising from the Canadian retailer’s takeover approach.
Alimentation Couche-Tard Inc. met privately with key Seven & i Holdings Co. shareholders as the Canadian firm ramps up pressure on the operator of 7-Eleven convenience stores to engage in takeover talks.
Canadian convenience store and gas station operator Alimentation Couche-Tard Inc. said it won’t go hostile in its attempt to acquire long-time rival Seven & i Holdings Co.
Alimentation Couche-Tard Inc. will keep up “friendly and persistent” attempts to forge a deal to acquire Seven & i Holdings Co., saying that it has the financing in place and sees a clear path to gaining antitrust regulatory appeal in the US.
A shareholder in Japan’s Seven & i Holdings Co. is pressuring the company to engage “more deeply” with Alimentation Couche-Tard Inc. over its $47.5 billion buyout approach.
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Canada’s convenience store and gas station operator Alimentation Couche-Tard Inc. says it has held “exploratory discussions” with potential buyers for any US stores that would need to be divested to secure regulatory approval for a potential takeover of Japanese rival Seven & i Holdings Co.
Seven & i Holdings Co. plans to rebuff a proposed takeover by Alimentation Couche-Tard Inc., the Yomiuri newspaper reported, with the Japanese retailer seeking to boost its valuation on its own after a management buyout by the founding Ito family was scrapped.
Seven & i Holdings Co. Chief Executive Officer Ryuichi Isaka is stepping down from his position, the Nikkei newspaper reported without citing sources.
Seven & i Holdings Co. is seeking deals in Europe to bolster growth abroad as the retailer faces increased pressure to consider a proposed takeover by Canada’s Alimentation Couche-Tard Inc.
Alimentation Couche-Tard Inc. is keeping up its pursuit of Seven & i Holdings Co. but has yet to gain access to the Japanese company’s financials, months after proposing a takeover, people with knowledge of the matter said.
Seven & i Holdings Co. will show some signs of recovery at its convenience stores in Japan and North America when it reports quarterly results, but that may not be enough to stave off investor pressure to engage with a takeover approach from Alimentation Couche-Tard Inc.
The ¥9 trillion ($60 billion) proposed management buyout of Seven & i Holdings Co. is set to include plans for an initial public offering of its North American convenience stores and gasoline stations business to ease financing concerns, people with knowledge of the matter said.
Canadian convenience store and fuel retailer Alimentation Couche-Tard Inc. remains committed to snapping up its Japanese rival Seven & i Holdings Co. despite a new management buyout proposal valued at about $58 billion.
Seven & i Holdings Co. is considering a management buyout to take itself private with funding from banks, Itochu Corp. and the founding Ito family in a transaction that could be worth ¥9 trillion ($58 billion), people with knowledge of the matter said.
Seven & i Holdings Co., the convenience-store operator facing a takeover approach from Canada’s Alimentation Couche-Tard Inc., plans to reduce its stake in its banking unit to 38% as part of a broader revamp, people with knowledge of the matter said.
The son of Alimentation Couche-Tard Inc. co-founder Richard Fortin is betting on one of Canada’s hottest real estate markets to diversify the billionaire family’s retail fortunes.
Seven & i Holdings Co.’s plan to split in two and expand abroad will help the retailer almost double group revenue, Chief Executive Officer Ryuichi Isaka said in an appeal to shareholders as Alimentation Couche-Tard Inc. seeks to buy the Japanese convenience-store operator.
The takeover battle for Seven & i Holdings Co. is fueling share gains in its banking unit, on speculation the Japanese retail giant will cut its stake and allow the lender to conduct buybacks more freely.
Circle K operator Alimentation Couche-Tard Inc. is likely to face a tough US antitrust review if it moves forward with its $47.2 billion bid to buy 7-Eleven owner Seven & i Holdings Co., according to a Bloomberg News analysis.
Alimentation Couche-Tard Inc.’s founder and top executives are spending three days in Tokyo this week, seeking to make their case for buying Seven & i Holdings Co. for about ¥7.1 trillion ($47.4 billion) despite being rebuffed by the Japanese retailer.
Alimentation Couche-Tard Inc. is interested in buying the entirety of Seven & i Holdings Co., and will keep the local operations of the Japanese convenience store and retail giant intact, Chairman and founder Alain Bouchard said.