Seven & I to Tell Couche-Tard Its Bid Price Is Insufficient
- Takeover offer was just below $15 a share, or $42 billion
- 7-Eleven parent to send a letter on Friday to Canadian company
Customers inside a 7-Eleven convenience store, operated by Seven & i Holdings Co., in Kobe, Japan.
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
Seven & i Holdings Co. plans to tell Alimentation Couche-Tard Inc. that its offer price for the Japanese convenience store operator is insufficient and that competition law concerns remain.
The company’s board will send a letter to Couche-Tard on Friday Japan time, outlining its response to the proposal following a review by a committee of independent outside directors, according to people familiar with the matter who were unauthorized to speak publicly.