7-Eleven rejected a $38 billion takeover offer
7-Eleven’s owner, Japan’s Seven & i Holdings, rejected the Canadian retail giant Alimentation Couche-Tard’s (ACT) bid for 38 billion dollars (approx. HUF 13.5 trillion). The Japanese company said the offer “grossly undervalued” 7-Eleven, but indicated it remained open to negotiations for a better offer.
7-Eleven, which is the world’s largest grocery store chain with 85,000 stores, is present in 20 countries. The bidder ACT operates 17,000 stores worldwide, including the Circle K and Couche-Tard store chains. If the deal were to come to fruition, a giant chain operating nearly 100,000 stores would be created, which would cover a significant part of the American market.
The Japanese owner also criticized ACT’s timing when rejecting the offer, saying that due to the weakening Japanese yen, they wanted to buy the company on more favorable terms for foreign buyers. According to the BBC, the acquisition of such a large Japanese company by a foreign company would be of historic importance, since until now Japanese companies have mostly bought foreign companies.
Related news
7-Eleven to open 1,300 stores in North America
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >7-Eleven is preparing its strategic expansion into Europe
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Circle K and Couche-Tard: Expanding the Convenience Frontier in Europe
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Related news
Dr Zoltán Pogátsa on the Hungarian economy: neither the golden age, nor an apocalypse
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Eurozone GDP grew by 0.1 percent in the second quarter compared to the previous quarter
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >KSH: industrial production decreased by 1.0 percent compared to the same period of the previous year, expanded by 2.0 percent compared to the previous month
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >