Consumer
Couche-Tard Suggested Higher Price of $47 Billion for Seven & I
- Offer sent last month; no substantive talks held since then
- Japan retailer said initial price was too low to enter talks
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Alimentation Couche-Tard Inc. sent Seven & i Holdings Co. a new potential acquisition price of ¥7 trillion ($47.2 billion), people with knowledge of the matter said, showing that the Canadian company is still seeking to enter takeover talks after its initial bid was rejected.
The indicated offer of $18.19 per share was sent to Seven & i on Sept. 19, the people said, asking not to be identified because the information isn’t public. The figure represents a premium of around 20% from the prior offer and the company’s stock price from yesterday. Shares in Seven & i rose 4.7% on Wednesday following the news.